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Thailand's exports to see strong growth: think tank


webfact

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File photo: Reuters

 

Source: Xinhua

 

BANGKOK, July 28 (Xinhua) -- Thailand's Krungsri Research, a think tank, has upgraded its 2021 growth forecast for the country's exports after strong growth was recorded in June amid improving global demand.

 

The research unit under Thailand's Bank of Ayudhya said exports would be the main driver of the country's economic growth this year, and raised its full-year export growth forecast to up to 15 percent from its previous estimate of 9 percent.

 

Thailand's exports surged 43.8 percent from a year earlier in June, the strongest increase since July 2010, according to data from the Ministry of Commerce.

 

Full story: http://www.xinhuanet.com/english/asiapacific/2021-07/28/c_1310092387.htm

 

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For the next 10 years, measuring any form of economics without adjusting for the inflationary impact is pointless.  Underlying inflation globally is hovering at circa 12% right now with another 10% coming very soon.

 

Economics 101 says that if government prints currency and increases their money supply by 25% (which virtually every government has done in 18 months), while economic production has been near zero growth or worse, that 25% surplus cash will automatically inflate the "value" of assets and the price of goods and services.

 

Luckily, anybody who has a ton of commercial debt over assets and can increase their prices will see their debt severely eroded and their asset value severely increased, allowing them to leverage even more debt to buy more assets. Shame 🤗

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This is great news. I definitely value the opinions of think tanks, because I know that they are wholly independent of their donors, and are only rarely formed to push a host of political and social agendas. 

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3 hours ago, Thailand said:

I guess that may well be the case with the baht being one of the weakest currencies in Asia, products are now cheaper for export.

Also due to the pent up demand from key export markets of China and USA which have done well to manage the covid19 pandemic. 

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5 hours ago, webfact said:

The research unit under Thailand's Bank of Ayudhya said exports would be the main driver of the country's economic growth this year, and raised its full-year export growth forecast to up to 15 percent from its previous estimate of 9 percent.

 

At this moment in time, Exports are the only major source of income the Thai Government has.

However, as the Covid pandemic increases in Thailand , there will be a sharp drop in Exports in the future as Supply Chains and Major Industries are faced with staff shortages , Lockdowns, and other restrictions placed upon them.

Toyota has already shuttered 3 Plants in Thailand, and I would expect to hear of more of these shutdowns, even if they are on a temporary basis.

15 % increase ! Cant see it. Maybe at best a flat line.

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Dumb and dumber. Measuring growth against last year. Very productive. 

 

Exports are way down. This drivel is simply very disingenuous propaganda. CCP type nonsense. Are these clowns being coached? 

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Yes, a dip in economy usually get such a reaction. However, it might be so bad, that nobody can afford to produce anyway. 😆

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3 hours ago, MrJ2U said:

I'm trying to think what they export besides Durian.

 

You cannot be serious. Machinery is 23%. Then comes electronics at 19%. Food products, wood, chemicals and plastics make up the next 28%, then automobiles and parts, stone and glass products, and textiles and furniture. Thailand is also one of the worlds top exporters of shrimp and rice. In 2019 Thailand exported around $249,000,000,000 (yes, about half the Thai economy, or about 7.5 trillion baht) in value, making it the 23rd largest exporter in the world. 

 

However, all bets are off now. So much sabotage has been wreaked upon the nation, who knows where the economy will end up after this is all over. 

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