September exports better than predicted as Thai recovery accelerates

By THE NATION

 

 

Thailand’s exports continued to recover in September, fetching US$19.6 billion for a smaller-than-expected drop of 3.56 per cent from a year earlier, the Commerce Ministry said on Thursday.

 

Reuter’s had forecast a drop of 4.08 per cent after exports fell by 7.94 per cent in August.

 

Imports in September dropped 9.08 per cent year on year, to $17.3 billion, resulting in a $2.23-billion trade surplus, said Pimchanok Vonkorpon, director-general of the ministry's Trade Policy and Strategy Office.

 

“In the first nine months of 2020, total exports are at $172.9 billion, decreasing 7.33 per cent year on year, while total imports are at $152.2 billion, decreasing 14.64 per cent,” she said. “Thailand therefore has a trade surplus of $20.6 billion so far [this year].”

 

Pimchanok added that Asia’s economy is recovering from the Covid-19 fallout faster than those in Europe and the United States.

 

“This has resulted in rising exports of agricultural products and processed foods to Asian markets,” she said, adding that Thailand’s exports in 2020 are expected to shrink by 6-7 per cent from a year earlier.

 

She said escalating political tension between the government and pro-democracy demonstrators should have no direct impact on exports, which rely on demand from overseas customers.

 

“However, it could affect the confidence of foreign investors who might hesitate to invest in Thailand if the government shows a lack of stability,” she added.

 

“The export sector still looks promising as Thailand produces various products to meet the demand of foreign markets during the outbreak, especially rubber gloves and medical equipment,” she said. “Furthermore, Thai products meet international safety and quality standards.”

 

Source: https://www.nationthailand.com/news/30396611

 

-- © Copyright The Nation Thailand 2020-10-22

 

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And under which rug did they pull these figures from

‘Thai recovery accelerates’: tell that to the many millions of Thai suffering nowadays.....

Torture statistics enough and they'll give you the answer your looking for .. 

Fast becoming a part of the national identity is delusion .. 

Most world economies are showing similar recoveries but it is from a very low base. 

 

IE GDP falls 10%, bounces back 5% still down 5% - the figures quoted kind of make sense but we as we are still in for a slow drawn out recovery to just get back to where we all were per 2020

 

 

Excellent news, perhaps things will be completely back to 'normal' in just a few years instead of decades....

Nice hearing of it.   

Nonsense

7 hours ago, webfact said:

Pimchanok added that Asia’s economy is recovering from the Covid-19 fallout faster than those in Europe and the United States.

 

Pure propaganda, written to appease the populace. Maybe China recovers faster, but for the other countries especially of Southeast Asia which depend strongly on tourism and export, this is just another propaganda narrative. These countries will need decades to recover. 2021 will be the worst year to come.

 

7 hours ago, webfact said:

"However, it could affect the confidence of foreign investors who might hesitate to invest in Thailand if the government shows a lack of stability,” she added.

 

More nonsense propaganda. Currently hardly any foreign investor plans any new investment, due to the fact that the government even does not allow investors to visit the country, plus the governments efforts to create new bureaucratic hurdles day by day and the related chaos.

 

But it's true, a stable civil government would help. Who is trying to avoid that, who is clinging to power?