Thai exports may drop 8%-10% this year - shippers

 

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 may fall by 8%-10% this year, slightly better than the 10% fall predicted earlier, due to a gradual recovery in global demand, the Thai shipping association said on Tuesday.

 

Exports, a key driver of Thai growth, should have bottomed out, Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers' Council, told reporters.

 

But a persistently strong baht <THB=TH> remains a concern, the group said.

 

(Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by Ed Davies)(Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by Ed Davies)

 

-- © Copyright Reuters 2020-10-06

 

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"but a persistently strong baht remains a concern,the group said".....and so says everyone else except for the Elites here.....

4 minutes ago, webfact said:

But a persistently strong baht <THB=TH> remains a concern, the group said.

 

4 minutes ago, webfact said:

Thai exports may drop 8%-10% this year

Is there an oxymoron in these two sentences.  

 

6 minutes ago, webfact said:

Exports, a key driver of Thai growth, should have bottomed out

How can exports have bottomed out, if the Baht is flying high and hindering the movement of goods.  Still a long way to go as more factories close because of a slowdown in exports and business as no one has money to purchase the goods.

So devalue the BTH, done problem solved! Like 25% for start! All of them only cry and don't do sht!

I am waiting for the baht to be devalued.....along with every other ex-pat in the country.  Sometime soon I hope.⏱️

4 minutes ago, Grumpy John said:

I am waiting for the baht to be devalued.....along with every other ex-pat in the country.  Sometime soon I hope.⏱️

A soothsayer recently informed me the baht will be devalued the day pigs start flying 

26 minutes ago, webfact said:

Thai exports may drop 8%-10% this year - shippers

dreamers that's what they are.... official numbers indicate otherwise

 

https://tradingeconomics.com/thailand/exports

6 minutes ago, Mavideol said:

dreamers that's what they are.... official numbers indicate otherwise

 

https://tradingeconomics.com/thailand/exports

Hm doesn't that page seem to pretty much say the same thing?

6 minutes ago, eisfeld said:

Hm doesn't that page seem to pretty much say the same thing?

last 3-4 months

 

Calendar	GMT	Reference		Actual	Previous	Consensus	TEForecast
2020-06-24	03:30 AM		May	-22.5%	2.12%	-6.4%
2020-07-24	03:30 AM		Jun	-23.17%	-22.5%	-15.5%
2020-08-24	03:30 AM		Jul	-11.37%	-23.17%	-17.8%
2020-09-23	03:30 AM		Aug	-7.94%	-11.37%	-12.05%

8 minutes ago, Mavideol said:

last 3-4 months

 

Calendar	GMT	Reference		Actual	Previous	Consensus	TEForecast
2020-06-24	03:30 AM		May	-22.5%	2.12%	-6.4%
2020-07-24	03:30 AM		Jun	-23.17%	-22.5%	-15.5%
2020-08-24	03:30 AM		Jul	-11.37%	-23.17%	-17.8%
2020-09-23	03:30 AM		Aug	-7.94%	-11.37%	-12.05%

That doesn't contradict a ~8% decrease averaged over the whole year. The big drop was in April (Jan, Feb, Mar more or less normal) and now it seems to go back up. So if 4 months are really bad but the rest not so much it can still average out to less than 8%.

4 minutes ago, eisfeld said:

That doesn't contradict a ~8% decrease averaged over the whole year. The big drop was in April (Jan, Feb, Mar more or less normal) and now it seems to go back up. So if 4 months are really bad but the rest not so much it can still average out to less than 8%.

let's wait and see..... my friend has a factory producing goods mainly for exports, he's down, for the past 6 months, by more then 60% and he may close down (85 people out of work) at the end of the year if things, mainly a drop in the baht,  don't improve

3 minutes ago, Mavideol said:

let's wait and see..... my friend has a factory producing goods mainly for exports, he's down, for the past 6 months, by more then 60% and he may close down (85 people out of work) at the end of the year if things, mainly a drop in the baht,  don't improve

What kind of factory is that? I'd guess some products are much more impacted than others.

Just now, eisfeld said:

What kind of factory is that? I'd guess some products are much more impacted than others.

kids/children goods and related accessories, his brother exports car parts as well

An 8-10% drop in exports with a high-flying Baht?

The Everly Brothers said it best.

”Dree...eee...eee...eee...eam, dream, dream, dream, dream”

”Only trouble is...gee whiz..i’m dreaming my life away...”

4 hours ago, webfact said:

Thai exports may drop 8%-10% this year - shippers

Tourism down 90% yet the baht is flying high?

6 minutes ago, hotchilli said:

Tourism down 90% yet the baht is flying high?

unsolved mysteries of Thai conducting business 555