Thailand’s trade deficit for June amounts to 40 billion baht as baht weakens

[webfact]

 

Thailand’s trade deficit for the month of June was over 40 billion baht, partly due to a 19% increase in the value of imports, especially energy. The figure includes a 10% increase in the value of exports. The Thai baht also weakened against the US dollar, said Krungthai Global Markets Strategist Poon Panichpibool today (Monday).

 

According to Poon, the baht is expected to fluctuate between 36.5 and 36.7 baht/US dollar today, and between 36.3 to 36.9 baht/US dollar this week.

 

He forecast, however, that the baht currency may further weaken, but will not break the 37 baht/US dollar threshold if China does not resort to widespread lockdowns to contain the spread of COVID-19 in the country.

 

Full story: https://www.thaipbsworld.com/thailands-trade-deficit-for-june-amounts-to-40-billion-baht-as-baht-weakens/

 

-- © Copyright Thai PBS 2022-07-18

 

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[worgeordie]

No problem, what they borrowed from Japan with a 

very minimal interest rate will help , this year .....next year  ?

regards Worgeordie

[2baht]

Here's an idea.......a 300 baht tourist extortion should take up some of the shortfall!

[Sqoop]

Does this mean that the value of imports exceeds exports ? I assume so. 

[StayinThailand2much]

Roughly 1 billion US$... 

Edited July 18, 2022 by StayinThailand2much

[StayinThailand2much]

11 minutes ago, 2baht said:

Here's an idea.......a 300 baht tourist extortion should take up some of the shortfall!

All they need now is 133 million tourists... ????

 

Perhaps they could increase foreign tourists' hotel prices ten-fold, and national park prices to 50× what locals pay in the meantime.

Edited July 18, 2022 by StayinThailand2much

[Pawpcorn]

Rich... from full article:

 

He said that the reduction in the international value of the baht could be slowed down by short-term profit taking in the stock market by foreign investors and profit taking by some speculators, in anticipation of the better than expected recovery in tourism business.

[daveAustin]

1 hour ago, 2baht said:

Here's an idea.......a 300 baht tourist extortion should take up some of the shortfall!

That is already in someone’s pocket. 

[Eric Loh]

1 hour ago, worgeordie said:

No problem, what they borrowed from Japan with a 

very minimal interest rate will help , this year .....next year  ?

regards Worgeordie

The Japan loan is denominated in Yen. Has little effect on Baht-USD exchange rate.

[worgeordie]

Just now, Eric Loh said:

The Japan loan is denominated in Yen. Has little effect on Baht-USD exchange rate.

But a lot of Yen , the deficit is 40 Billion Baht  , not US $.

regards Worgeordie

[Eric Loh]

1 hour ago, worgeordie said:

But a lot of Yen , the deficit is 40 Billion Baht  , not US $.

regards Worgeordie

The 40 B is a trade deficit. Nothing to do with foreign loan. 

[RichardColeman]

17 hours ago, webfact said:

He forecast, however, that the baht currency may further weaken,

Serious rubbish - the £ gained 0.25 baht yesterday and lost it all this morning to be back in the 43's where its been wandering about forever it seems - the world is not the $$$$$$$

[mikebell]

2 hours ago, RichardColeman said:

Serious rubbish - the £ gained 0.25 baht yesterday and lost it all this morning to be back in the 43's where its been wandering about forever it seems - the world is not the $$$$$$$

It's not that the baht is strong, it's the fact that the £ is weak.  In the good old days of 70+ to the £ I used to spend it all on high living; now I have to check the price of Weetabix carefully.  Where did all the North Sea oil money go?

[Bangkok Barry]

1 hour ago, mikebell said:

It's not that the baht is strong, it's the fact that the £ is weak.  In the good old days of 70+ to the £ I used to spend it all on high living; now I have to check the price of Weetabix carefully.  Where did all the North Sea oil money go?

I bought my house then. Paid cash, 660,000 which I brought over from the UK. Spent double that in bringing it up to standard and it's probably worth 3.5-4 million now. I'm still checking the price of Weetabix though.

[NorthernRyland]

7 minutes ago, Bangkok Barry said:

Paid cash, 660,000

What year was this? You can't get anything more than a shack for 660k nowadays.

[Bangkok Barry]

2 minutes ago, NorthernRyland said:

What year was this? You can't get anything more than a shack for 660k nowadays.

Please read the item I quoted and my response again and you'll have your answer ????

[NorthernRyland]

1 minute ago, Bangkok Barry said:

Please read the item I quoted and my response again and you'll have your answer ????

It's a riddle? "the good old days of 70+ to the £"?  I remember for a very brief time 45 baht/1 USD in 2005 when I first came but I have no idea what the pound got then.

[AnotherFarang8]

If all restrictions for tourists are not canceled, inflation in Thailand will run higher with less foreign currency coming into the country.

[Henryford]

31 minutes ago, NorthernRyland said:

What year was this? You can't get anything more than a shack for 660k nowadays.

He probably means 2006. I bought my condo then at 71 to the Pound. Makes a big difference.

[zzaa09]

21 hours ago, worgeordie said:

No problem, what they borrowed from Japan with a 

very minimal interest rate will help , this year .....next year  ?

regards Worgeordie

.....and then there's the decades long IOUs from the IMF and World Bank.

[NorthernRyland]

18 minutes ago, Henryford said:

He probably means 2006. I bought my condo then at 71 to the Pound. Makes a big difference.

everything was better back then. Not having a smart phone and maps, had to explore and find your own way, less traffic etc... etc.... All better.

[brianthainess]

Best news i've heard for ages AUD is up and rising due to a mining boom as China needs to import more resources, and Australia's debt is low.  

[vivananahuahin]

23 hours ago, Sqoop said:

Does this mean that the value of imports exceeds exports ? I assume so. 

it 's mean inflation

[whiteman]

He probably means 2006. I bought my condo then at 71 to the Pound. Makes a big difference.

 

NOW ADD IT TO THE 1000S OF EMTY CONDOES SITTING THERE FOR SALE

[hotchilli]

On 7/18/2022 at 1:22 PM, webfact said:

Thailand’s trade deficit for the month of June was over 40 billion baht, partly due to a 19% increase in the value of imports, especially energy.

I can hear music?

[itsari]

Baht weakens due to the rise in the US dollar. 

Trade deficit rises to the Thai dependence on imported energy that is paid in US dollars . 

Policy of covering the increase in energy with there so called oil fund is going to increase borrowings dramatically .

Result will be a further pressure on the baht .

Best to wait with transfering money to Thailand.

[Jumbo1968]

8 hours ago, mikebell said:

It's not that the baht is strong, it's the fact that the £ is weak.  In the good old days of 70+ to the £ I used to spend it all on high living; now I have to check the price of Weetabix carefully.  Where did all the North Sea oil money go?

Thatcher sold of the North Sea oil to balance the books, Norway on the other didn’t, they created a Sovereign Fund now worth 1.9 trillion dollars.

[Harveyboy]

please take a look at my euro exchange before we talk about weak Baht .. 

[jacko45k]

23 hours ago, mikebell said:

Where did all the North Sea oil money go?

On benefits......

[mikebell]

3 hours ago, jacko45k said:

On benefits......

Like State pensions for those living in Thailand?