Thai August exports fall 7.94% year-on-year, smaller drop than forecast

 

FILE PHOTO: A view of the Port of Bangkok, Thailand, March 25, 2016. Picture taken March 25, 2016. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's exports in August declined by a smaller-than-expected 7.94% from a year earlier, led by lower shipments of cars, machinery and plastic pellets, the commerce ministry said on Wednesday.

 

The drop compared with a forecast in a Reuters poll for a decline of 12.05% in exports, and against July's 11.37% fall.

 

Excluding gold shipments, exports declined 14.26% year-on-year.

 

In January-August, exports, a key driver of Thai growth, contracted 7.75% from a year earlier, while imports tumbled 15.31%.

 

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies)

 

-- © Copyright Reuters 2020-09-23

 

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Can i get a hallelujah, can I get an Amen, Yes I guess that's a good thing, feels like the tide has turned and the world might be opening up for needed commerce.  I will hold out on my hope for more good news and an upswing until once this years fall-out is over, and the totality of 3/4's of the year being nothing other than a write-off.

 

2 hours ago, webfact said:

Thailand's exports in August declined by a smaller-than-expected 7.94% from a year earlier....the commerce ministry said on Wednesday.

And who in this country of mere honesty still believes any official numbers here? 

2 hours ago, webfact said:

Excluding gold shipments, exports declined 14.26% year-on-year.

You can only sell and export the family gold once. Future month might show true export values.

So their own figures admit 14.26 drop so most likely a lot more and the fact that gold exports which is actually very worrying as the country has been getting emptied of precious metals and gems for over a year since China started trying to stop hot money leaving China. Not good but dont worry the Thai baht will keep soaring, oh maybe not now that the spotlight is starting to shine on the banks...