Exports, Tourism Boosted Thai Economy In November

[george]

Exports, tourism boosted economy in November

By THE NATION

Published on December 31, 2010

Thailand's economy continued to expand in November, led by exports, private investment and tourism, according to the Bank of Thailand.

Domestic demand rose after a temporary slowdown in October when several areas were severely hit by floods.

November's private consumption index rose 4.1 per cent from the same period a year earlier and 3.5 per cent from October. The month-on-month increase came from consumption of both durable and non-durable goods and was in line with improved consumer confidence after the flood situation eased.

The electricity usage of households declined slightly from October due to lower temperature. The country's private investment expanded in November with the private investment index rising 15.5 per cent from last year and 0.3 per cent from a month ago.

Most investment indicators, including imports of capital goods, domestic sales of commercial vehicles and local sales of cement, improved. This improvement is in line with improved business confidence.

Following the economic expansion of Thailand's trading partners, November's exports rose 28.7 per cent from the same period a year earlier. Thai exports, with rise in all products and markets, amounted to US$17.58 billion (Bt525 billion) in November alone.

Thailand's tourism continued to improve with 1.5 million overseas tourists arriving in November, up 10.2 per cent from the same period last year, due mainly to increased tourist numbers from Asean countries, East Asia and South Asia.

Hotel occupancy rate rose to 55.1 per cent in November from 49 per cent in the previous month. The rate increased in almost all regions, excluding the South which was affected by the floods.

Supply increased in line with domestic and overseas demand. November's manufacturing production index advanced 5.6 per cent from the previous year and 0.7 per cent from last month.

The boost came from consistently rising car production following higher domestic and overseas demand, increased production of commercial air-conditioning for rising overseas demand, and production of plastic pellets for increasing local demand.

Agricultural production, in November, contracted 7.2 per cent from a year ago, but improved from last month's 12.1 per cent contraction, while agricultural prices rose 28.1 per cent. The recent drought, floods and Aphid epidemic have damaged crops, including the main rice crop, oil palm, sugar cane and tapioca. Farmers' income in November increased 18.9 per cent from last year.

In November, imports totalled $17.09 billion, up 35 per cent from a year earlier and 14.4 per cent from a month ago. All imported products increased.

Financial institutions' deposits, including bills of exchange, in November, increased 10.5 per cent from a year ago, while their private-sector loans expanded 12.2 per cent on rising loans to households.

Both headline and core inflation rates remained the same as in the previous month. Trade and current accounts were still in surplus in November.

-- The Nation 2010-12-31

[taff33]

WOW where are they hiding the tourist?

[asiawatcher]

"... Thailand's tourism continued to improve with 1.5 million overseas tourists arriving in November, up 10.2 per cent from the same period last year, due mainly to increased tourist numbers from Asean countries, East Asia and South Asia."

Selective memory - 2009 the country was still reeling from the first red shirt rabble. So would not be too hard to explain an increase. But the interesting one is:

"... Hotel occupancy rate rose to 55.1 per cent in November from 49 per cent in the previous month. The rate increased in almost all regions, excluding the South which was affected by the floods."

Gee up past 50% - in peak season no less. Augers well for the next 6 months with elections due and more unrest - bet you can find some cheap hotels wanting to bail out.

[dezrat773]

So that means that the hotels were half empty! In years past you could hardly find a room and now you can make a bargain when the hotel is hungry to fill the enpty rooms. Was on a plane 3 times in November and on one A380, I had 3 seats to myself with only 100 out of around 400 seats filled. So I think that the report is SOS in Thailand. Laos. Vietnam, Cambodia, KL, Sing are really busy!!!!!

[aznyron]

If Vietnam could get there crap together they could be the number one in tourism & exports of South East Asia they have a long beautiful coast line of beaches & they devalued there Dong two or three times so you will get more Dong for your buck which is good for the tourist I want to wish them great success they have been pick on way to long with China France USA & Cambodia all trying to take them over or exploit them which ever the case may be & they prevailed God Bless them

[jayjay0]

If Vietnam could get there crap together they could be the number one in tourism & exports of South East Asia they have a long beautiful coast line of beaches & they devalued there Dong two or three times so you will get more Dong for your buck which is good for the tourist I want to wish them great success they have been pick on way to long with China France USA & Cambodia all trying to take them over or exploit them which ever the case may be & they prevailed God Bless them

What you say is true.

The problem being it is almost a secret on the world scene.

Myself I have not been there but I have friends who have and they have no complaints all say it was a wonderful vacation.

It is on my itinerary. Vietnam and Lao are the only two countries I haven't got to yet this year it will probably be Lao.

With the road all the way through Lao to the Vietnamese border I would imagine there will be tours some where. Think I will start looking?