Thailand’s Exports in June Grow at Highest Rate for 11 Years

[Jonathan Fairfield]

 

BANGKOK (NNT) - The Commerce Ministry reports that exports in June grew at the highest rate for 11 years, as global demand increased, and that this trend is expected to continue.

 

Commerce Minister Jurin Laksanavisit said exports rose by a stronger than expected 43.82% in June, compared to a year earlier, beating the forecast rise of 39% in a Reuters poll, and against May’s 41.6% increase.

 

He said exports will continue to drive the economy in the second half of the year, but there may be obstacles that need to be tackled by the public and private sectors, citing factory closures and labor shortages, caused by the outbreak, as being among the negative factors.

 

Mr Jurin added that the Commerce Ministry will seek government support, including more vaccinations, for the manufacturing sector, to maintain export orders and to meet global demand. Exports have been the only bright spot as the Thai economy struggles with its worst coronavirus outbreak to date and the collapse of tourism.

 

-- © Copyright NNT 2021-07-24

 

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[placeholder]

Well, just maybe because they're starting from a low base. How much of a rise is it from 2 years ago?

[billd766]

9 minutes ago, placeholder said:

Well, just maybe because they're starting from a low base. How much of a rise is it from 2 years ago?

In actual figures and not percentages.

 

If you sell 1 item in one year, and next year you sell 2, that is a 100% increase.

Edited July 24, 2021 by billd766
Added extra text

[tonray]

Maybe...just Maybe...it has to do with a reasonably priced baht in relation to other currencies, especially the US Dollar ?

Edited July 24, 2021 by tonray

[LazySlipper]

Thank God I was born cynical... If I started to believe one 1/100 of the <deleted> they throw at me in an attempt to justify their jobs I would be touting a Thai flag in my home country... Can't they take a break from this nonsense?

 

[sanuk711]

Car exports have led the market in this--- Japanese have them selling into Oz -Kiwi- Malaysia and many other countries & now also back into Japan. Which is just as well as the home market is bound grind to a near halt this & next year.

Even though it is a big increase in exports--the bottom line profit belongs of course to Japan

 

May 2021	Growth Y-o-Y (%)	Jan.-May 2021	Growth YTD (%)
Production	140,168	150.1%	710,356	32.9%
Domestic Sales	55,948	38.4%	308,217	13.9%
Export (CBU)	79,479	165.9%	390,467	29.9%

 

[placeholder]

Actually it is a pretty impressive number in and of itself. The 2nd highest ever. But the previous June had the second lowest level of exports in years, only to be outcompeted negatively by May.

https://tradingeconomics.com/thailand/exports

[Rookiescot]

Must be channeling a lot of Chinese goods in order to circumvent the US embargo.