Thai exports under FTAs, GSP drop almost 15%

[webfact]

Thai exports under FTAs, GSP drop almost 15%

By The Nation

 

 

Thai export revenue from January-July under free trade agreements (FTAs) and the generalised system of preferences (GSP) dropped 14.77 per cent year on year to US$35.421 billion, said Department of Foreign Trade director-general Keerati Rushchano.

 

Exports under FTAs were worth $32.875 billion, down 15.88 per cent.

 

Thailand’s top five FTA export markets were China (exports worth $11.152 billion), Asean ($10.798 billion), Japan ($3.890 billion), Australia ($3.426 billion) and India ($1.784 billion).

 

Thai exports under GSP to the US, Switzerland, Russia and the Commonwealth of Independent States, and Norway during the same period rose 2.61 per cent to $2.546 billion.

 

Source: https://www.nationthailand.com/business/30396817

 

-- © Copyright The Nation Thailand 2020-10-27

 

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[RichardColeman]

1 hour ago, webfact said:

dropped 14.77 per cent year on year 

Exports under FTAs were worth $32.875 billion, down 15.88 per cent

So, if we know tourism is down at least 75% how can the powers that be , keep doling out this line of bull about -7.5% growth ? What on earth is creating any growth to get it up to -7% ? 

 

They cannot blame covid for exports as China - another nation with highly dubious covid figures - is in growth. So similarly Covid free thailand should be booming also. Which only leaves the killingly high baht devastating exports now - which they show no sign of addressing. 

 

I get this awful feeling that 'if' in the future Thailand gets a new government that is not led by the current lot, the reality of the deficits, false figures and missing money will devastating for the Thai people for decades.

[sammieuk1]

I'm off to hospital again as my side stitches have burst again hopefully just before the reaper descends on this wretched government ????

[jollyhangmon]

 

... well, good, considering the 'special import tax' applied here all these agreements aren't worth the paper they're printed on anyway.

 

[hotchilli]

5 hours ago, RichardColeman said:

What on earth is creating any growth to get it up to -7% ? 

In a word BS

[Isaan sailor]

Former US President famously admitted, “It’s the economy, stupid.”

One could say the same here, with a slight adjustment:  It’s the Baht, stupid.

[yellowboat]

The world economy is still struggling.   Surprised it was only a mere 14% and change.   Thailand only seems to see things that effects Thailand.  It is the most inward looking country I have ever been to. 

[DrTuner]

Two large drivers down, tourism and exports and both in double digits. Yet GDP drop predicted at mid single digits? Meh. My guess is -18% this year.

Edited October 27, 2020 by DrTuner

[Flying Saucage]

The powers that be base their legitimation fully end exclusively on lies, false narratives and propaganda, for not less than 100%. There is nothing positive they achieved during the last 6 years. Therefore, also all the published economic data are based on lies and only made up to support the fabricated false narratives.

 

The big and somehow funny problem with lies is, however, that it is quite challenging to synchronize all the lies, and to make them consistent to each other, especially when different officials and ministries fabricate their own lies. A result are all these embarressments and U-turns we experience day by day in LOS.

 

This is when the funny part of the story starts for us foreign observers. Comedy often works with second-hand embarressment, and the Thai officials are not less than the biggest laughing stock on Earth. 

 

 

 

Edited October 27, 2020 by Flying Saucage