Thai Exports Dip Slightly Amid Efforts to Curb Global Inflation

[snoop1130]

 

BANGKOK (NNT) - Thailand’s export growth in October fell for the first time since February of last year, as tightening monetary policy to curb high global inflation in major trading partners affected purchasing power and economic activity.

 

According to data from the Ministry of Commerce on Monday (28 Nov), the kingdom’s exports dropped 4.4% in October from a year earlier to 21.77 billion U.S. dollars.

 

Commerce Minister Jurin Laksanawisit told a press conference that the prolonged global economic slowdown and the Purchasing Managers’ Index (PMI) decline in key trading partners were the main frictions to Thai export growth.

 

He noted, however, that the entire-year export growth is still likely to double the ministry’s 4% target, driven by lower energy costs and a weaker baht.

 

In October, exports of agricultural and agro-industrial products declined for the first time in nearly two years, down 3.4% from a year earlier.

 

The ministry said in a statement that industrial product exports fell 3.5% year-on-year.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221129143637179

 

-- © Copyright NNT 2022-11-29

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[RichardColeman]

Pound zooms up 5% against the dollar and drops 4% against the baht. Ridiculously expensive currency - no wonder exports are dropping

[Cake Monster]

4 hours ago, RichardColeman said:

Pound zooms up 5% against the dollar and drops 4% against the baht. Ridiculously expensive currency - no wonder exports are dropping

And when Deputy Dawg gets the gets his 35 Baht to Dollar that he demanded openly about 6 weeks ago, it will be even worse for the Export market.

The Vietnamese and Indians are taking the trade away from Thailand.

[hotchilli]

17 hours ago, snoop1130 said:

According to data from the Ministry of Commerce on Monday (28 Nov), the kingdom’s exports dropped 4.4% in October from a year earlier to 21.77 billion U.S. dollars.

Never mind with millions of Russians coming in the girls will make up for any losses...

Go Issan