Thai exports drop 4 months running by 3.99 percent

[webfact]

Thai exports drop 4 months running by 3.99 percent



BANGKOK: -- Thai exports for the month of April shrank 1.7 percent for the fourth consecutive month bringing the combined export slide for four months to 3.99 percent, according to the latest figures from the Commerce Ministry.

Mr Somkiat Trirattanaphan, director of the Office of Trade Policy and Strategy, said Tuesday that export value for April amounted to 16.9 billion US dollars, representing a drop of 1.7 percent from a month earlier whereas imports dropped by 6.84 percent to 17.4 billion US dollars resulting to a trade deficit of 523 million US dollars for April.

Exports for the first four months totaled 70.2 billion US dollars representing a drop of 3.99 percent compared to imports amounting to 69.3 billion US dollars representing a drop of 6.53 percent. For the first four months, Thailand registered 906 million US dollars in trade surplus as a direct result of economic slowdown and global oil price slide.

(Photo : Thai PBS File)

Source: http://englishnews.thaipbs.or.th/thai-exports-drop-4-months-running-by-3-99-percent

-- Thai PBS 2015-05-26

[Toknarok]

If this trend continues the General's predictions of a great improvement in theThai economy will look rather ridiculous.

[EricBerg]

Short on money? Raise prices for the farangs! But seriously, Thailand is still risking a boycott of seafood by Europe end the US. Should this happen then a real recession may start. And that may be followed by a chain reaction. Even the condo bubble may burst. Then the sh*t really will hit the fan.

Edited May 26, 2015 by EricBerg

[Strangebrew]

Speaking of But On hand it is told all is well in the LOS me thinks they need more smartitcles

Edited May 26, 2015 by Strangebrew

[shirtless]

I said wait a month or so for the optimism to fade as it happens it only took days why do they continue to talk such rubbish .

[HiSoLowSoNoSo]

The Thai Baht been to strong, we lowered the prices 10% in our factory and we have been going flat out the last 6 months. A lower profit margin is a very hard thing for a Thai exporter to accept.

[Thai at Heart]

The Thai Baht been to strong, we lowered the prices 10% in our factory and we have been going flat out the last 6 months. A lower profit margin is a very hard thing for a Thai exporter to accept.

This is the fundamental issue I fear. They are very used to very nice margins.

[quandow]

I salute you, Mr Somkiat Trirattanaphan, director of the Office of Trade Policy and Strategy. So seldom do we see such blatant honesty. Even if you are "fudging" the numbers, the fact that you'd tell a tale that makes Thailand look bad, in direct conflict with PM Cha-cha's edict, makes you a hero in my eyes.

[wowfactor10]

While looking at picture and the extreme negative news that he is bringing again for Thailand nevertheless i see the face of

Mr Somkiat Trirattanaphan, director of the Office of Trade Policy and Strategy.

without any worries in the world

[Srikcir]

Just two days ago the Thai Chamber of Commerce (TCC) indicated Thailand’s economy has "already recovered from the lowest point..."

Maybe not so Fast and Furious.

[IAMHERE]

I suspect the drop is temporary, wait until Russia/China start trading actively with Thailand.

[tullynagardy]

But happiness is being returned to the people and that is the main thing. The latest poll says 105% of the Thai population think the General is doing a good job and are enjoying the lower standard of living.

[tullynagardy]

I suspect the drop is temporary, wait until Russia/China start trading actively with Thailand.

Huh? What nonsense are you talking. China is already the biggest destination of Thai exports and Russia, whilst in the top 20, is mired in recession so hardly likely to spark a rivival in consumer spending.

[lostoday]

Speaking of But On hand it is told all is well in the LOS me thinks they need more smartitcles

Thailand is entering a recession. A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. This would be more of a problem for the baht except the Euro is poised on the high dive platform of doomdiving which will make the Baht look good. China is tubing it and that makes Thailand and the USA the winners of the coming hard times. One hopes they can get together again.

So Thailand keep your US dollars and wait a couple of years to buy the trains, planes and submarines which will all be for sale at bargain basement prices.

[Utley]

Short on money? Raise prices for the farangs! But seriously, Thailand is still risking a boycott of seafood by Europe end the US. Should this happen then a real recession may start. And that may be followed by a chain reaction. Even the condo bubble may burst. Then the sh*t really will hit the fan.

The sh*t has already hit the fan. A 3.99% drop in exports over a four month period is nearly a 12% drop annualized - a big number! Samsung has recently moved its TV manufacturing to Vietnam - which in MHO is just the start. Thailand will have to loosen its currency controls ASAP in order to attract new investment and prevent a complete contastrophy.

[elgordo38]

The Thai Baht been to strong, we lowered the prices 10% in our factory and we have been going flat out the last 6 months. A lower profit margin is a very hard thing for a Thai exporter to accept.

A lower baht seems also hard for the government to swallow unless like 1997 it was a forced issue. A lower profit margin is a very hard thing for a Thai exporter to accept. Yes saving face is more important than going broke. At least they go broke with dignity.

[elgordo38]

I salute you, Mr Somkiat Trirattanaphan, director of the Office of Trade Policy and Strategy. So seldom do we see such blatant honesty. Even if you are "fudging" the numbers, the fact that you'd tell a tale that makes Thailand look bad, in direct conflict with PM Cha-cha's edict, makes you a hero in my eyes.

Off to the indoctrination center with this fellow. He is not reading from the government script.

[lostoday]

Short on money? Raise prices for the farangs! But seriously, Thailand is still risking a boycott of seafood by Europe end the US. Should this happen then a real recession may start. And that may be followed by a chain reaction. Even the condo bubble may burst. Then the sh*t really will hit the fan.

The sh*t has already hit the fan. A 3.99% drop in exports over a four month period is nearly a 12% drop annualized - a big number! Samsung has recently moved its TV manufacturing to Vietnam - which in MHO is just the start. Thailand will have to loosen its currency controls ASAP in order to attract new investment and prevent a complete contastrophy.

What currency controls?

[Utley]

Short on money? Raise prices for the farangs! But seriously, Thailand is still risking a boycott of seafood by Europe end the US. Should this happen then a real recession may start. And that may be followed by a chain reaction. Even the condo bubble may burst. Then the sh*t really will hit the fan.

The sh*t has already hit the fan. A 3.99% drop in exports over a four month period is nearly a 12% drop annualized - a big number! Samsung has recently moved its TV manufacturing to Vietnam - which in MHO is just the start. Thailand will have to loosen its currency controls ASAP in order to attract new investment and prevent a complete contastrophy.

What currency controls?

With few exceptions, Thailand doesn't allow investors to move baht out of the country - which is the main reason why the baht stays so strong. In supply and demand terms, they are limiting the supply.

[mango66]

The Thai Baht been to strong, we lowered the prices 10% in our factory and we have been going flat out the last 6 months. A lower profit margin is a very hard thing for a Thai exporter to accept.

so you think bankrupcy is better ??

Why not kick off labours,

lowwer selaries, like we habve to do it now in Europe !

But Thai cleverness will try the other way around !

Go up with prices and you easily compensate lower sales;

[Ulic]

Who are you going to believe, the General who says the economy will increase by 3.8%

this year or this schmo telling it like it is.

[lostoday]

Short on money? Raise prices for the farangs! But seriously, Thailand is still risking a boycott of seafood by Europe end the US. Should this happen then a real recession may start. And that may be followed by a chain reaction. Even the condo bubble may burst. Then the sh*t really will hit the fan.

The sh*t has already hit the fan. A 3.99% drop in exports over a four month period is nearly a 12% drop annualized - a big number! Samsung has recently moved its TV manufacturing to Vietnam - which in MHO is just the start. Thailand will have to loosen its currency controls ASAP in order to attract new investment and prevent a complete contastrophy.

What currency controls?

With few exceptions, Thailand doesn't allow investors to move baht out of the country - which is the main reason why the baht stays so strong. In supply and demand terms, they are limiting the supply.

Before 2016 Ford will move substantial production from Mexico to Thailand. I wonder how they get the profits out and back to the USA?

Ford does not just leave the money in Thailand do they? Or Honda or all the other auto and hard drive manufactures.

[mommysboy]

It's simple. The baht is too high.

[EricBerg]

Short on money? Raise prices for the farangs! But seriously, Thailand is still risking a boycott of seafood by Europe end the US. Should this happen then a real recession may start. And that may be followed by a chain reaction. Even the condo bubble may burst. Then the sh*t really will hit the fan.

The sh*t has already hit the fan. A 3.99% drop in exports over a four month period is nearly a 12% drop annualized - a big number! Samsung has recently moved its TV manufacturing to Vietnam - which in MHO is just the start. Thailand will have to loosen its currency controls ASAP in order to attract new investment and prevent a complete contastrophy.

What currency controls?

With few exceptions, Thailand doesn't allow investors to move baht out of the country - which is the main reason why the baht stays so strong. In supply and demand terms, they are limiting the supply.

You are very wrong. All companies are able to take their money out of the country. The mrs. and I, we sold our Thai company and our Phuket home. It may not be high finance but it is enough for us to have an early retirement in reasonable luxury. We had no problem taking our money out and put it in non Thai banks. Big international companies would never ever invest in Thailand if they couldn't take out their profits. Be it Toyota Carrefour, Seagate, or a small 30 employees company, the owners can do with their profit what they want.

[Cake Monster]

But, only 2 days ago the economy was past its low point.

These people give me a headache.

[sfokevin]

I would like to know how bad this number would have been if you factor out all the rice that was dumped in the first four months of this year?...

Never mind someone got a call and is now singing a happier tune...

"The Commerce Ministry is optimistic that the country's exports will recover soon after bottoming out in April"

http://www.nationmultimedia.com/business/Thai-exports-have-turned-the-corner-Commerce-30260996.html

Edited May 27, 2015 by sfokevin

[mikebell]

I don't believe the spokesperson above - he is smiling.