January-November export 2.7% in red

 

 

BANGKOK (NNT) - Thailand’s export sector continues to suffer from the global economic slowdown. The latest figures from November 2019 show a 7.39 percent continuous decline in value. Oil refinery closedowns for maintenance have also caused a decline in petroleum exports, resulting in the overall export figure in 11 months of this year to be at negative 2.7 percent.

 

The Trade Policy and Strategy Office (TPSO) Director General Pimchanok Vonkorpon has reported the latest export value in November 2019 at 19.656 billion U.S. dollar, showing a 7.39 percent decline.

 

The decline in the figure was due to lower performing key export products, especially petroleum and chemicals which suffered a 29.1 percent decline, and plastic beads which showed an 11.6 percent decline. This was due to closures of oil refineries for maintenance in ASEAN countries since September, expected to have a continuous effect until the end of the year.

 

The export of farm products shows a 3.6 percent decrease, especially tapioca, rice, and rubber.

 

The global economic slowdown has affected the export of these products to key markets such as the U.S., the EU, Japan, and ASEAN. This has resulted in the overall trade value from January to November this year of 227.09 billion U.S. dollars, showing a 2.77 percent decline. The overall export value this year is expected to conclude at a negative 2 percent, should the export value in December alone reach 20 billion U.S. dollar.

 

The TPSO director said today this performance corresponds to the global trend, while Thailand continues to maintain its export value better than many other countries.

 

Goods imported into Thailand in November 2019 were recorded at 19.108 billion U.S. dollar, showing a 13.78 percent decrease due to the closure of oil refineries leading to a reduction in crude oil imports. Thailand continues to enjoy a trade surplus of 548 million U.S. dollars. The overall import figure for January - November 2019 is 218.081 billion U.S. dollars, with a 9 billion U.S. dollar trade surplus.

 

-- © Copyright NNT 2019-12-24

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14 hours ago, snoop1130 said:

Thailand’s export sector continues to suffer from the global economic slowdown.

Why do you always blame your failure on the global situation? Inform how things really are, keep the Baht artificially high knowing that the risk of a big fall would bring Thailand back to very high poverty levels!
2.7%, seriously I think this number has been corrected, probably the least is much more remarkable!

2020 is going to be a rocky year, the truth regarding the Thai economy will be open for all to see.

6 hours ago, hotchilli said:

2020 is going to be a rocky year, the truth regarding the Thai economy will be open for all to see.

The 'Truth' is something rarely seen in Thailand !

5 hours ago, trainman34014 said:

The 'Truth' is something rarely seen in Thailand !

As it is in many countries where image trumps reality. Still, one day Thailand will not be able to pull its wool over the other countries eyes. Perhaps the world is waking up to Thailand or is for whatever reason, not ready to cut it any more slack..

 

By all recent accounts of the pesticide debacle, the Donald certainly is or has.

 

 

Edited December 25, 20196 yr by ParkerN

All this talk about the economic slowdown in the global economy.

where may I ask, beside Asian? Europe?

certainly not n North America, markets at record levels, things going well.

portfolio did 15 percent this year.