Thai exports likely rise at least 10% in April - minister

[snoop1130]

FILE PHOTO: A worker walks near a container being loaded onto a cargo ship at a port near the Chao Phraya river in Bangkok October 29, 2013. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's exports likely increased at least 10% in April from a year earlier and this year's target of 4% growth could be exceeded, the commerce minister said.

 

"April exports may have risen at least 10%," Jurin Laksanawisit said in a video clip posted on Friday.

 

"Given the export figures so far... there is a very high chance that exports will beat the target for 2021," he said.

 

The commerce ministry is due to release April trade data on May 25 at around 0330 GMT.

 

As of Friday, a Reuters poll showed exports may have risen 8.8% in April year on year.

 

In the January-March period, shipments increased 2.27% from a year earlier while imports rose 9.37%, giving a trade surplus of $516 million.

 

Earlier this week, the state planning agency raised its export growth forecast to 10.3% this year from 5.8% due to improved global demand.

 

-- © Copyright Reuters 2021-05-21

 

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[ThailandRyan]

40 minutes ago, snoop1130 said:

a Reuters poll showed exports may have risen 8.8% in April year on year.

Operative word being MAY......lets wait for all the numbers and see what was exported.  If gold then it was the final sell off by families needing money....exports of cars, exports of Durian, many things....

[realfunster]

Perhaps, cap in hand,  we can politely ask our 'friends' in Beijing to start buying more stuff...

 

Not sure if these figures include the submarines. ????

 

 

[holy cow cm]

Not likely. With container freight costs sky rocketing because of China’s high bidding offers to get coveted space and containers to the EU and USA, this is likely to have a rippling decrease effect on all export across the board. No one can afford, compete or will put up with these high costs. Before double, now going to triple and on to Premium quadruple the normal usual freight costs. And it is the shipping companies allowing this. Vietnam is also trying to compete for the space and everyone but China is the loser, and no one knows how they are able to consistently do this. Been Going on for quite a while now and getting worse. 

[BenDeCosta]

They just keep making guesses based on what? 

 

Here is my guess:

 

Thai exports will rise 2.9% in April.

 

Can I get a job in the Thai government please?

 

Tourism income will go up by 21.2%, som tam sales will increase by 14.1%, and sales of khanom jeen will increase by 4.1%.

 

Ice cream sales will be down by 1.19%, but government ministers will see their income rise by 35.7%.

 

Of course, 95.7% of these figures are based on a a questionnaire that sampled 11.6% of the population, and 32.9% of ex-pats.

 

And if you believe 44.2% of what I have said, then you'll be better off by 71.6%.

 

Pure fantasy.

 

[BestB]

We are now in may and they still guessing if increased and by how much last month ? They do not know?

[2 is 1]

Can you Thai idiots finaly see that its better  BTH is weak! Better to us farangs and better to country!

[MasterBaker]

if baht will slide 10%, it will be the case

[hotchilli]

12 hours ago, snoop1130 said:

Thailand's exports likely increased at least 10% in April from a year earlier and this year's target of 4% growth could be exceeded, the commerce minister said.

Quoting percentages means nothing...

what's a  10% increase of virtually nothing?

Just sounds good.

 

[klauskunkel]

15 hours ago, snoop1130 said:

Thailand's exports likely increased at least 10% in April from a year earlier the commerce minister said.

and here is the 10%:

[Venom]

13 hours ago, 2 is 1 said:

Can you Thai idiots finaly see that its better  BTH is weak! Better to us farangs and better to country!

True, for those living overseas and/or not holding Thai baht. 

 

Inflation in Thailand is presently at about 5% so prices locally are going up regardless. 

[Eric Loh]

13 hours ago, holy cow cm said:

Not likely. With container freight costs sky rocketing because of China’s high bidding offers to get coveted space and containers to the EU and USA, this is likely to have a rippling decrease effect on all export across the board. No one can afford, compete or will put up with these high costs. Before double, now going to triple and on to Premium quadruple the normal usual freight costs. And it is the shipping companies allowing this. Vietnam is also trying to compete for the space and everyone but China is the loser, and no one knows how they are able to consistently do this. Been Going on for quite a while now and getting worse. 

 
High shipping costs experiencing now are just passed down ultimately to the consumers. Inflation is inevitable and interest rates will force to respond. Really a perfect storm and nightmare for many businesses. Will have to try find a better place to park cash. 

[holy cow cm]

7 minutes ago, Eric Loh said:

 
High shipping costs experiencing now are just passed down ultimately to the consumers. Inflation is inevitable and interest rates will force to respond. Really a perfect storm and nightmare for many businesses. Will have to try find a better place to park cash. 

That is a crazy statement. Sorry, for the most part and general rule most all higher shipping costs are not passed down to the consumers when concerned for the USA. They are absorbed by the producers and importers and in some cases by the retail buyers if they are directly involved in ordering. Big retailers just push it on to the minion in the chain. In many cases coming up, if it does not change the importers and retailers are going to phase out the product or temporarily discontinue them as in most all cases they refuse to absorb and long term cannot sustain to absorb these costs, and the consumer in most cases will not accept a major price increase so will go without. Yes maybe depends on the product and out of necessity. Add duty programs expiring and not renewed, and it is bigger than you think for some countries. China has no trade preferential treatment with duty programs say for the USA, but always seems to be able to undercut everyone's prices. How? We all have an idea for the answer to this.

 

So I understand exactly what is going on. If we eliminate by threatening a banning of all China exports to the EU and USA, then you will see freight rates drop and return back to lower better levels. It is simply China and Chinese companies manipulating the system by offering high over the top crazy bids to get the bulk mass of containers and ship space in order to have their products favored onboard and exported. Nothing less and nothing more. It is also the greediness of the shipping companies taking the money and allowing it to happen. Two areas of blame.

 

Now the reason the Chinese are able to offer these high over the top rates is the question of how can they do and the why? Is this yet another underhanded strategy by the Chinese government to secretly fund under the table to overwhelm and crush all other countries having non Chinese products to export? You tell me. For Thailand there is also Vietnam competing in this because of logistics, but you should also know that Vietnam has been and is a haven for Chinese shell companies masquerading under the Vietnam flag, so this is probably part of the reason from there, complicated with that the true Vietnamese factory and companies also need to export products to stay afloat as well. Yes, I have done lots of business in Vietnam. Love the people and the country, and what I state is where the problem is directly coming from. It is a shame.

[rickudon]

In April 2020 exports fell by 7.5%, so you would expect a recovery. !0% maybe a little ambitious.