Thailand's export grows only 1% in first 8 months

[webfact]

Thailand’s export grows only 1% in first 8 months

BANGKOK, 23 September 2013 (NNT) – The Commerce Ministry said Thailand only saw a 1 percent growth in its export in the first 8 months of this year, while calling for all commercial diplomats in 62 countries around the world to help push the export sector.

Commerce Minister Niwatthamrong Bunsongphaisan said he believed Thailand's economy would expand further in the latter half of 2013 despite a small export growth of only 1% in the first 8 month.

However, unofficial reports indicated that the growth figure in August was 4 percent, adding that the Thai economy has a tendency to rise for the rest of the year.

The minister furthered disclosed that he had ordered all 62 commercial diplomats worldwide to submit their export strategies and plans to him, while urging them to help promote Thai products and push the export industry, especially in the last four months of this year.

As for the country’s export growth target for the month of October, Minister Niwatthamrong said he would have to discuss it with the Industry Ministry and the Ministry of Agriculture first before making any prediction.


-- NNT 2013-09-23

[jbrain]

Now it's just waiting for the announcement of the BOI or alike in the next few days, that exports grew unexpectedly in the past 8 months.

[dcutman]

Thailand’s export grows only 1% in first 8 months

OUCH!

[jbrain]

However, unofficial reports indicated that the growth figure in August was 4 percent, adding that the Thai economy has a tendency to rise for the rest of the year.

I guess unofficial means from Dubai

[dcutman]

Coming into 2013 Thailand’s National Economic and Social Development Board (NESDB), a Thailand government agency under the Office of the Prime Minister, forecast 2013 Thailand GDP of between 4.5-5.5 per cent and export growth of 11 per cent. http://www.establishmentpost.com/2013-thailand-gdp-slashed-2-8-third-quarter-negative-growth-looms/

Now we have CIMB and HSBC cutting growth estimate even more, to 2.8%, with the 3rd quarter contracting again to (re)confirm a recession.

Cant wait to hear all the spin tomorrow from our finance minister.

[Pib]

The spin will be Thailand has bottomed out...growth should increase over the coming months and next year...things are looking op....all is good again thanks to the PTP....vote for PTP come next election!

P.S. Everyone, please stop blocking intersections demanding your crop (i.e., rice, rubber, etc) be subsidized by the govt.

[Thai at Heart]

That has missed the yearly target by how much? 12%?

[Valentine]

The spin will be Thailand has bottomed out...growth should increase over the coming months and next year...things are looking op....all is good again thanks to the PTP....vote for PTP come next election!

P.S. Everyone, please stop blocking intersections demanding your crop (i.e., rice, rubber, etc) be subsidized by the govt.

Lucky Thailand does not have very well organized trade unions although I suppose the leaders are more likely on the take & in it for the money rather than the welfare of their members.

[webfact]

Gloomy export performance for Thailand this year
By English News

BANGKOK, Sept 23 - Thailand must speed up its exports given disappointing growth at only 1 per cent in the first eight months of this year and a predicted failure to achieve the projected 7-7.5 per cent growth for the entire year, Deputy Prime Minister/Commerce Minister Niwatthamrong Boonsongpaisarn said today.

He chaired a workshop with Thai commercial attaches assigned to 62 countries and the private sector to together find out urgent measures to push up Thailand's exports in the remaining quarter and review this
year's export projection.

Exports in August expanded by 4 per cent but at an average of only 1 per cent since January.

He said a conclusion on readjustment of export projections and measures to jack up exports should be made by the end of October, foreseeing positive export expansion in Q4.

There are many overseas orders in Q4, but Thailand will have to penetrate new markets and push for exports in every sector including agricultural produce and industrial manufacturing, he said.

Concentration must be given to the Asian market and border trade, he said.

Exports to China have declined, he admitted, but said that the total value was rather high. (MCOT online news)


-- TNA 2013-09-23

[NongKhaiKid]

Coming into 2013 Thailand’s National Economic and Social Development Board (NESDB), a Thailand government agency under the Office of the Prime Minister, forecast 2013 Thailand GDP of between 4.5-5.5 per cent and export growth of 11 per cent. http://www.establishmentpost.com/2013-thailand-gdp-slashed-2-8-third-quarter-negative-growth-looms/

Now we have CIMB and HSBC cutting growth estimate even more, to 2.8%, with the 3rd quarter contracting again to (re)confirm a recession.

Cant wait to hear all the spin tomorrow from our finance minister.

i thought one of the justifications for YL's globetrotting was that she was doing wonders for exports or will the spin be it won't kick in until next year ?

[Thai at Heart]

Coming into 2013 Thailand’s National Economic and Social Development Board (NESDB), a Thailand government agency under the Office of the Prime Minister, forecast 2013 Thailand GDP of between 4.5-5.5 per cent and export growth of 11 per cent. http://www.establishmentpost.com/2013-thailand-gdp-slashed-2-8-third-quarter-negative-growth-looms/

Now we have CIMB and HSBC cutting growth estimate even more, to 2.8%, with the 3rd quarter contracting again to (re)confirm a recession.

Cant wait to hear all the spin tomorrow from our finance minister.

i thought one of the justifications for YL's globetrotting was that she was doing wonders for exports or will the spin be it won't kick in until next year ?

On the basis that the figures appear to be plumetting, if one was doing this from a professional perspective, one would have to fire Yingluck from her role as trade representative. It's one thing to be missing targets by a little bit, quite another to miss by this much.....

[Misterwhisper]

Blimey... and one would have thought that Thailand's recent forging of strong ties with Montenegro and the Vatican would do wonders for exports. But perhaps it's still too early. Next year, next year everything will look completely different when Thailand's exports to the tiny Balkan country and the even tinier Holy See are going to skyrocket. You'll see...

[dcutman]

Coming into 2013 Thailand’s National Economic and Social Development Board (NESDB), a Thailand government agency under the Office of the Prime Minister, forecast 2013 Thailand GDP of between 4.5-5.5 per cent and export growth of 11 per cent. http://www.establishmentpost.com/2013-thailand-gdp-slashed-2-8-third-quarter-negative-growth-looms/

Now we have CIMB and HSBC cutting growth estimate even more, to 2.8%, with the 3rd quarter contracting again to (re)confirm a recession.

Cant wait to hear all the spin tomorrow from our finance minister.

i thought one of the justifications for YL's globetrotting was that she was doing wonders for exports or will the spin be it won't kick in until next year ?

On the basis that the figures appear to be plumetting, if one was doing this from a professional perspective, one would have to fire Yingluck from her role as trade representative. It's one thing to be missing targets by a little bit, quite another to miss by this much.....

I was wondering the same thing myself. How much credibility can you keep when you are not even on the same planet with your original estimate/outlook.

[Thai at Heart]

Coming into 2013 Thailand’s National Economic and Social Development Board (NESDB), a Thailand government agency under the Office of the Prime Minister, forecast 2013 Thailand GDP of between 4.5-5.5 per cent and export growth of 11 per cent. http://www.establishmentpost.com/2013-thailand-gdp-slashed-2-8-third-quarter-negative-growth-looms/

Now we have CIMB and HSBC cutting growth estimate even more, to 2.8%, with the 3rd quarter contracting again to (re)confirm a recession.

Cant wait to hear all the spin tomorrow from our finance minister.

i thought one of the justifications for YL's globetrotting was that she was doing wonders for exports or will the spin be it won't kick in until next year ?

On the basis that the figures appear to be plumetting, if one was doing this from a professional perspective, one would have to fire Yingluck from her role as trade representative. It's one thing to be missing targets by a little bit, quite another to miss by this much.....

I was wondering the same thing myself. How much credibility can you keep when you are not even on the same planet with your original estimate/outlook.

Ummmmm, very little.

I mean honestly, at the start of the year, they were trumpteting 10%+. By only a few months ago they were screaming 7%+

Now its revised down to 1%? That basically is a horrendous performance, and if exports only grow that much, and they have been in a technical recession last 2 quarters, where the hell is the growth going to come from?

C+I+G+(X-M)

Very very bad numbers these indeed. They were hoping for some amount of growth only last month or so, by getting an export bounce from the devalued baht. Hmmmm. No way to achieve it now.

[teacherofwoe]

Since Thailand can't sell rice any more, I'm amazed that they have 1% growth.

[Thai at Heart]

Since Thailand can't sell rice any more, I'm amazed that they have 1% growth.

They make a little more than just rice in Thailand

[teacherofwoe]

Since Thailand can't sell rice any more, I'm amazed that they have 1% growth.

They make a little more than just rice in Thailand

Little is right.

[trainman34014]

''While calling for all commercial diplomats in 62 countries around the world to help push the export sector ''

Sorry; all these guys are way too busy with Yingluck's instructions to spread 'Thainess' throughout the world !!

[dcutman]

Since Thailand can't sell rice any more, I'm amazed that they have 1% growth.

They make a little more than just rice in Thailand

Yep, rice is slightly more than a blip on the export scale now a days, but at this moment Thailand needs all the help it can get. Rice, automotive parts, pineapples, baskets, whatever, sell it and get it on a boat. This country is having some bigtime problems, and its government and central bank have their heads in the sand. The only hope Thailand has is some clever business people with some horse power.

[Soi Sauce]

Since Thailand can't sell rice any more, I'm amazed that they have 1% growth.

They make a little more than just rice in Thailand

Yep, rice is slightly more than a blip on the export scale now a days, but at this moment Thailand needs all the help it can get. Rice, automotive parts, pineapples, baskets, whatever, sell it and get it on a boat. This country is having some bigtime problems, and its government and central bank have their heads in the sand. The only hope Thailand has is some clever business people with some horse power.

Those in the last sentence are not allowed. It's only established inneficient monopolistic family stuff here.

Compete! Get shot.

That is why this decline will continue.

[Thai at Heart]

Since Thailand can't sell rice any more, I'm amazed that they have 1% growth.

They make a little more than just rice in Thailand

Yep, rice is slightly more than a blip on the export scale now a days, but at this moment Thailand needs all the help it can get. Rice, automotive parts, pineapples, baskets, whatever, sell it and get it on a boat. This country is having some bigtime problems, and its government and central bank have their heads in the sand. The only hope Thailand has is some clever business people with some horse power.

Those in the last sentence are not allowed. It's only established inneficient monopolistic family stuff here.

Compete! Get shot.

That is why this decline will continue.

I think it is part of the issue. They should be pulling down the restrictions to encourage more and more investment in country.

But no, the protectionism continues. They may have reached a strategic bottle neck. Of nothing really changes, maybe GDP growth is stuck....

[i claudius]

So ,Thailand is not the "hub of exports" then?

[Tigre101]

the Office of the Prime Minister, forecast 2013 Thailand export growth of 11 per cent

Cant wait to hear all the spin tomorrow from our finance minister.

Office of the Prime Minister: "We forecast 11 per cent and it was 1 per cent. We was pretty close."

[Tigre101]

Meanwhile, in comparison, Vietnam:

Total export value rose by 16% in the first half of 2013

http://www.worldbank.org/en/news/feature/2013/07/12/taking-stock-july-2013-an-update-on-vietnams-recent-economic-development-key-findings

[Thai at Heart]

Blimey... and one would have thought that Thailand's recent forging of strong ties with Montenegro and the Vatican would do wonders for exports. But perhaps it's still too early. Next year, next year everything will look completely different when Thailand's exports to the tiny Balkan country and the even tinier Holy See are going to skyrocket. You'll see...

Don't worry, they were jumping up and down about rice exports to Switzerland last week...

[Phil Water]

Ahh the pitfalls of a strong Thai Baht.

[noitom]

Coming into 2013 Thailand’s National Economic and Social Development Board (NESDB), a Thailand government agency under the Office of the Prime Minister, forecast 2013 Thailand GDP of between 4.5-5.5 per cent and export growth of 11 per cent. http://www.establishmentpost.com/2013-thailand-gdp-slashed-2-8-third-quarter-negative-growth-looms/

Now we have CIMB and HSBC cutting growth estimate even more, to 2.8%, with the 3rd quarter contracting again to (re)confirm a recession.

Cant wait to hear all the spin tomorrow from our finance minister.

i thought one of the justifications for YL's globetrotting was that she was doing wonders for exports or will the spin be it won't kick in until next year ?

Yes, she was pushing.

[noitom]

Who really knows the true figure? It might have even been a negative number. The outside world never knows the truth about Thailand and the Thai press never ever digs around to affirm numbers and statistics. It's a shame, but the outside world does know that Thailand is smoke and mirrors, duplicity, and coverups.