Thai exports Record Fastest Growth in 11 Years during May

[snoop1130]

 

BANGKOK (NNT) - The Commerce Ministry reported on Thursday (24 June) that Thai exports recorded their fastest expansion in 11 years during May, driven by strong global demand and economic recovery in trading partners, as the government continues aggressive promotion efforts.

 

Commerce Minister Jurin Laksanavisit said exports jumped by 45.9% in May, after a 25.7% growth in April and a 12% rise in March, and are maintaining a healthy growth momentum. The expansion was partly attributed to the ministry’s export promotion plans this year, in addition to the robust global economic recovery, especially in the manufacturing sector

 

Outbound shipments earned more than 20 billion USD for the fourth consecutive month and recorded the highest growth rate since June 2010. Products recording strong growth in May included agricultural and food products, such as cassava products, rubber, vegetables and fruit, fresh, chilled and frozen chicken, palm oil, beverages, pet food and food seasonings.

 

Mr Jurin said the Commerce Ministry expects to see a robust recovery of Thai exports in the next phase, as industrial product exports have grown steadily for five consecutive months. Oil-related product shipments are also growing, due to an increase in export prices and foreign demand, after many countries eased their lockdown measures. COVID-19 vaccinations are also enhancing consumer confidence.

 

-- © Copyright NNT 2021-06-25

 

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[The Cipher]

I wonder if the lower THB helped with this, and if so, how meaningful it was.

[ThailandRyan]

Easy to do when they had declined due to Covid in 2020.  Not a surprise here.

[hotchilli]

Calculating in percentages growth is usually pointless, when starting from near zero.

[BoganInParasite]

Wake me when they've measured growth against pre-COVID times.

[jacko45k]

Those who constantly bang on about how the Thai baht defies all reason and remains strong...... take note. 

[placeholder]

32 minutes ago, BoganInParasite said:

Wake me when they've measured growth against pre-COVID times.

Wake up!

https://tradingeconomics.com/thailand/exports

[spidermike007]

A completely ridiculous survey, since it is measured against last year, when the economy was shut down. Talk about total deception. Means less than zero.

 

As hard as they try, they cannot convince those with a pulse and a discerning mind, that the economy is anything other than devastated, at this time. 

[placeholder]

12 minutes ago, spidermike007 said:

A completely ridiculous survey, since it is measured against last year, when the economy was shut down. Talk about total deception. Means less than zero.

 

As hard as they try, they cannot convince those with a pulse and a discerning mind, that the economy is anything other than devastated, at this time. 

Does that mean that the only people who can read charts like the one I posted above are zombies?

[spidermike007]

12 minutes ago, placeholder said:

Does that mean that the only people who can read charts like the one I posted above are zombies?

Actually quite hard to know what this chart means. Exports from Thailand jumped 41.59 percent year-on-year to USD 23.06 billion in May 2021, well above market estimates of a 30 percent growth and after a 13.09 percent gain a month earlier. This was the fastest rise in outbound shipments in almost eleven years.

 

So, that represents about 5% of the annual GDP of the nation. Which exports? All exports? Certain exports? Surely the Thai economy is made up of more than this, as a percent of the export total?

[spidermike007]

32 minutes ago, spidermike007 said:

Actually quite hard to know what this chart means. Exports from Thailand jumped 41.59 percent year-on-year to USD 23.06 billion in May 2021, well above market estimates of a 30 percent growth and after a 13.09 percent gain a month earlier. This was the fastest rise in outbound shipments in almost eleven years.

 

So, that represents about 5% of the annual GDP of the nation. Which exports? All exports? Certain exports? Surely the Thai economy is made up of more than this, as a percent of the export total?

I stand corrected. I see now it is by the month. However, there are still alot of questions in regard to these numbers. 

[RichardColeman]

If anyone cannot see that these figures - madly based against minus figures due to covid - will be used for government promotion in any next election, they need visit an optician relatively quite quickly