Thai exports set for boost from cars, electronics and agriculture

[webfact]

With a forecasted lethargic overall performance in 2023, Thai exports are set to be propelled by automobiles, auto parts, electronics, and agricultural products in the concluding quarter of this year, according to the Federation of Thai Industries (FTI). The FTI anticipates a rising global demand for these products, which should invigorate Thai exports that have been sluggish for several months.

 

FTI Chairman Kriengkrai Thiennukul, post a Joint Standing Committee on Commerce, Industry and Banking meeting, stated, “Exports will contribute to Thai economic growth over the last two months this year.” Nevertheless, the committee has downgraded its export projection for the year to a contraction of 1-2%, slightly lower than the previous 0.5-2% contraction.

 

Following a series of declines, Thai exports saw an increase for the second consecutive month in September, rising 2.1% year-on-year to US$25.5 billion. Concurrently, imports took a downturn by 8.3% to $23.4 billion, leading to a trade surplus of $2.09 billion, as reported by the Commerce Ministry last week.

 

by Alex Morgan

Picture courtesy of Patipat Janthong

 

Full story: The Thaiger 2023-11-02

 

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[hotchilli]

5 hours ago, webfact said:

Thai exports are set to be propelled by automobiles, auto parts, electronics, and agricultural products in the concluding quarter of this year, according to the Federation of Thai Industries (FTI). The FTI anticipates a rising global demand for these products, which should invigorate Thai exports that have been sluggish for several months

Talking up the last quarter.. hoping someone will believe them.

[Cake Monster]

So where exactly are all these high ticket items going with a Global slowdown

[StayinThailand2much]

26 minutes ago, Cake Monster said:

So where exactly are all these high ticket items going with a Global slowdown

 

Well, at least Thai calculators probably won't see an export boom ("... a contraction of 1-2%, slightly lower than the previous 0.5-2% contraction.")... - Yes, if I lose 100-200 baht, I will have more money left than if I lost 50-200 baht! LOL

Edited November 2, 2023 by StayinThailand2much

[jacko45k]

16 hours ago, Cake Monster said:

So where exactly are all these high ticket items going with a Global slowdown

 

The Federation of Thai Industries (FTI) has revealed that automobile exports in May grew by 12.25% but noted that the domestic market experienced a decline in sales of pickup trucks and trucks after controls on financing were tightened.

According to Surapong Paisitpattanapong, the FTI's automotive industry club vice president and spokesperson, the number of exported complete built-up (CBU) cars reached 86,358 units in May, a 12.25% increase compared to the same period last year.

Export value amounted to 54.97 billion baht, marking an 18.91% increase attributable to strong sales in major trading partners, including Indonesia (65% growth), Japan (25% growth), France (24% growth), Malaysia (21% growth), the UK (23% growth), and the US (22% growth).

Edited November 3, 2023 by jacko45k