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Thai exports up 17% in 2021, beating previous estimates


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By Panithan Onthaworn

 

Thailand’s exports in 2021 grew by 17.14 per cent from a year earlier. It was the highest spike since 2009, driven by recovery in trade partners’ economies, the Ministry of Commerce said on Friday.

 

Commerce Minister Jurin Laksanawisit said export value in December rose 24.2 per cent year-on-year, yielding a 2021 full-year value at USD 271 billion, 17.14 per cent growth. The figures beat the ministry’s estimate of 16 per cent. 

 

Beside global economic recovery, Jurin cited the collaboration between the ministry and the private sector, the weakening of the baht, increased prices for fuel-related products as key drivers for export growth.

 

Full story: https://www.thaienquirer.com/36809/thai-exports-up-17-in-2021-beating-previous-estimates/

 

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-- © Copyright Thai Enquirer 2022-01-22

 

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Guest Isaanlife

Beside global economic recovery, Jurin cited the collaboration between the ministry and the private sector, the weakening of the baht, increased prices for fuel-related products as key drivers for export growth.

 

Not once does he mention what was exported and to whom?

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Yes, good things can happen when the Baht weakens.  Now that the Baht has begun to strengthen again—don’t expect continued prosperity.

Edited by Isaan sailor
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4 hours ago, Isaanlife said:

Beside global economic recovery, Jurin cited the collaboration between the ministry and the private sector, the weakening of the baht, increased prices for fuel-related products as key drivers for export growth.

 

Not once does he mention what was exported and to whom?

Agree … what kind of journalism is this?

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Jurin Laksanawisit is obviously not aware, that there are logistic experts around too. 

The last year was increasingly delicate as far as ocean logistics is concerned with heavy and heavier delays in freight movement, congested ports on-/offloading cargoes and availability shortage of containers. 

Seafreight, which took +/- 30 days between Europe and Thailand is now seaborn 10+ weeks and freight rates went through the roof. 

But maybe Jurin Laksanawisit and his bosses invoked yet another emergency law doing away with reality; nobody in his/her right mind believes an increase of 1/6th although 2020 was an annus horribilus as we all know. More relevant would be a graphic display over the last 20+ years but farsightedness was never a forte of any civilian nor militarian routed government. 

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When I studied economics we were taught that an exports were goods or services sold abroad to obtain foreign currency.  Thus the revenue from foreign tourists were classed as export income.   If you were to include the huge loss of tourist income in these figures they would look a lot less positive.  

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