January export shrinks by 3.46 pct due to low agricultural and fuel prices

[webfact]

January export shrinks by 3.46% due to low agricultural and fuel prices

BANGKOK, 26 February 2015, (NNT) - The Ministry of Commerce has revealed that the Kingdom’s exports and imports in January shrank by 3.46% and 13.33% respectively, due to low agricultural and fuel prices.

The Department of International Trade Promotion (DITP) revealed that exports and imports last month came to 17.25 billion USD and 17.7 billion USD respectively, causing a trade deficit of 457 million dollars.

However, the DITP added that the overall number of export goods increased by 21.8%. The department said that these goods included products that have direct ties to crude oil prices, such as chemicals and plastics.

The DITP said the dominant factors affecting exports during the first quarter of the year are prices of agricultural goods and fuel, as well as the currencies of trading partners and rival nations.

The department revealed that despite under-performing exports last month, the government's export growth target remains at 4%. Officials continue monitoring both fuel prices and related currencies.


-- NNT 2015-02-26

[KimSamui]

Sounds like bull.

Blame it on low fuel prices LOL

[Plowman]

Sit back and relax Thaksin, this Junta is failing all by themselves. Can't be too long until we start hearing about a counter coup again.

[Robby nz]

It is a little confusing, probably because of translation however if you take the time to read it properly it becomes clearer.

It would seem that the total volume of exports rose by 21.8% with the value down 3.46%.

However it does not say in relation to what, whether it was the previous month or the same month of last year or a yearly average.

It would seem the drop in value can be attributed to the lower value of products derived from oil such as plastics and chemicals with the drop in prices received for those following the drop in the price of oil.

But of course the fact that rice exports for the month have mainly been derived from rice stored under the pledging scheme for which lower prices would have had to be accepted due to deteriorated quality would have helped bring the value down.

The low price of rubber on the world market would be another factor.

The value of (prices paid for) imports dropped 13.33% mainly due to the drop in cost of imported oil.

I don't see how any of these things can be blamed on the present administration for they have no control over either world oil or rubber prices and they must get rid of the stored rice as best they can.

[Plowman]

It is a little confusing, probably because of translation however if you take the time to read it properly it becomes clearer.

It would seem that the total volume of exports rose by 21.8% with the value down 3.46%.

However it does not say in relation to what, whether it was the previous month or the same month of last year or a yearly average.

It would seem the drop in value can be attributed to the lower value of products derived from oil such as plastics and chemicals with the drop in prices received for those following the drop in the price of oil.

But of course the fact that rice exports for the month have mainly been derived from rice stored under the pledging scheme for which lower prices would have had to be accepted due to deteriorated quality would have helped bring the value down.

The low price of rubber on the world market would be another factor.

The value of (prices paid for) imports dropped 13.33% mainly due to the drop in cost of imported oil.

I don't see how any of these things can be blamed on the present administration for they have no control over either world oil or rubber prices and they must get rid of the stored rice as best they can.

There is nothing confusing here, Thaksin has more economic nous in his little finger than all the Generals and their lackeys combined. The Thai army got their ass handed to them by Laos - if they can't even do the job they're trained for right, what hope have they to steer the day ship of state?

[jonstarjon]

@robbie

you should have stopped after stating that the artical made no sense..

[Robby nz]

It is a little confusing, probably because of translation however if you take the time to read it properly it becomes clearer.

It would seem that the total volume of exports rose by 21.8% with the value down 3.46%.

However it does not say in relation to what, whether it was the previous month or the same month of last year or a yearly average.

It would seem the drop in value can be attributed to the lower value of products derived from oil such as plastics and chemicals with the drop in prices received for those following the drop in the price of oil.

But of course the fact that rice exports for the month have mainly been derived from rice stored under the pledging scheme for which lower prices would have had to be accepted due to deteriorated quality would have helped bring the value down.

The low price of rubber on the world market would be another factor.

The value of (prices paid for) imports dropped 13.33% mainly due to the drop in cost of imported oil.

I don't see how any of these things can be blamed on the present administration for they have no control over either world oil or rubber prices and they must get rid of the stored rice as best they can.

There is nothing confusing here, Thaksin has more economic nous in his little finger than all the Generals and their lackeys combined. The Thai army got their ass handed to them by Laos - if they can't even do the job they're trained for right, what hope have they to steer the day ship of state?

That would have to be the biggest load of off topic stupidity you have ever posted, and you have a great record of stupidity.

What happened in Lao ?

[ScarpoFongness4U]

Oil prices freebfalled over 6 months, but Thailand doesn't show a decrease in costs?

And chemical and plastics exports?

Does this explain the grotesque pollution and brown water all around Bangkok and its environs?

[Srikcir]

"number of export goods increased by 21.8%"

But the net of exports and imports last month came to a trade deficit of 457 million dollars.

Thailand would do better to stop foreign trade!

[rubl]

"number of export goods increased by 21.8%"

But the net of exports and imports last month came to a trade deficit of 457 million dollars.

Thailand would do better to stop foreign trade!

Totally agree and while you're providing free economical advise, can you also tell about half of the other countries in the World? Maybe start with the U.S.A which had a US$505 billion trade deficit in 2014?

http://www.tradingeconomics.com/united-states/balance-of-trade