Thai exports plunge for first time in two years

BANGKOK, December 20, 2011 (AFP) - Thailand exports in November dived for the first time in more than two years because of the kingdom's devastating recent flooding, government data showed Tuesday.

Exports dropped 12.4 percent for the month from a year earlier to $15.49 billion, the first plunge since October 2009.

"Most of our exports in November dropped, especially the industrial products which were affected by the floods," said the deputy minister of commerce Siriwat Kajornprasart.

Imports declined 2.4 percent to $16.87 billion, which resulted in a $1.37 billion trade deficit in November.

Many of the companies located in Thailand's industrial heartland have said it will be several months at least before their operations return to normal. Investor confidence in the kingdom is likely to take even longer to recover.

The Thai branch of Japanese auto giant Toyota Motor also announced Tuesday that domestic car sales for November plunged 67.5 percent year-on-year to 25,664 units, after several assembly plants had to close due to the floods.

They will continue to affect car sales in December, the company said.

More than 740 people have been killed in recent months by the deluge across Thailand, which has caused billions of dollars in damage.

-- (c) Copyright AFP 2011-12-20

deputy minister of commerce forgot to mention that thailand is no longer the bigest exporter of rice.

What a pitty

Another problem for the government to face then how handle an economy Maybe this could be a job for Taksinman ? A spokesperson for the government who asked not to be named said "I have no idea what brother is doing for Christmas although it might be on the agenda under any other business, what ever that is."