Thai exports fall 6.69% in August

[webfact]

Exports fall 6.69% in August



BANGKOK: -- Thai exports continued to decline 6% in August becoming the eighth consecutive fall this year due mainly to the sluggish recovery of global economy.

Director-general of the Trade Policy and Strategy Office of the Commerce Ministry Somkiat Trirattanapan revealed that exports in the month of August have amounted to US$17.6 billion, a decrease of about 6.69%.

He said this was a continual decline for eight straight months.

The export fall brought the total exports during the past eight months to be lower by 4.9 percent, with imports during the same period decreasing by about 8 percent.

However the figure represented a trade surplus of about US $ 5 billion for the first eight months of the year.

According to the director-general, the main reasons for slower Thai exports are due to the slowly reviving global economy and the economies of main trade partners, such as the United States, Europe, Japan and China.

He also said the world oil price has also remained sluggish, where the price has already lowered by 46.9 percent during the past 8 months of the year.

Agricultural produce prices in the world market have also gravely decreased, added Mr. Somkiat, pointing out the price of rice has lowered by 8.5 percent, while rubber price has declined by 19.7 percent, causing export values to sharply reduce.

Nonetheless, the Trade Policy and Strategy Office would retain its export forecast at a deficit of 3 percent, though all export strategies would be revised by November.

Meanwhile Commerce Minister Apiradi Tantaraporn yesterday advised the Department of Foreign Trade (DFT) to revise its management plans for the country’s main agricultural produce such as rice and cassava.

But she said the ministry remains optimistic that rice exports for the year would reach 10 million tonnes as targeted while the ministry will try to expand exports in the last three months of the year.

Source: http://englishnews.thaipbs.or.th/exports-fall-6-69-in-august


-- Thai PBS 2015-09-29

[aneliane]

Germany is also in global economy, their exports are great.

[upena]

Sluggish global economy - easy way to point fingers away from all that ails Thailand.

[thesetat2013]

Sluggish global economy - easy way to point fingers away from all that ails Thailand.

It is always somebody else's or something else's fault if its bad and happens in Thailand

[waldroj]

How the Government sees it:

DG from Commerce Ministry, Somkiat Trirattanapan, said this was a continual decline for eight straight months - Nonetheless, the Trade Policy and Strategy Office would retain its export forecast at a deficit of 3 percent.

Meanwhile Commerce Minister Apiradi Tantaraporn said the ministry remains optimistic that rice exports for the year would reach 10 million tonnes as targeted while the ministry will try to expand exports in the last three months of the year.

How my stockbrokers (CIMB Thailand) reported it in their morning update today:

August figures plunge for eighth consecutive month!

As optimistic as the junta (and it's spinsters) may remain, the reality is the Thai economy continues to free-fall. Just have a look at the SET Index for this year!

[fred Kubasa]

They seem to overlook the fact that there is, essentially, a glut on the

markets they have products to export. Not likely to change as competing

nations exports are usually, high quality/lower priced/tea money free.

Time to offer something new or start product price war !

[Praematura]

When the rich Thais have invested in dollar denominated investments the regime will depreciate the baht. With Vietnam and other countries, including China their #1 trading partner implementing devaluation policies how are Thai exports supposed to be competitive... I'm constantly surprised at how imbeciles can run a country saying things that make no sense. Once they block the Internet maybe their statements about external factors will become more believable to the locals.

[Srikcir]

Somkiat might want to talk to Central Bank who just CUT forecasts for increases in gross domestic product for this year from 3.0% to 2.7%.

And frankly 2.7% is too optimistic.

[Time Traveller]

What they didn't mention in this article is that the government's own forecasts were for 15% growth in exports YoY.

The fact that they've put such fanciful forecasts out each year indicates these government officials have no clue whatsoever about the economy.....it's just another instance of the embarrassing incompetence of the out of touch government

[NeverSure]

Germany is also in global economy, their exports are great.

Up until the Volkswagen debacle. I wouldn't buy a gddm thing from Germany into the future...

Countries including Thailand have to protect their export business by taking care of their customers. Thailand and Germany take care of themselves first and eventually it catches up with them.

[MaiChai]

I think everyone is tightening belts everywhere. How long as the world been in recession? Since 2008? That's 7 years and not much improvement on the horizon? Thus its not a Thai problem.

[smutcakes]

According to HSBC whilst having a trade surplus is good, it is more to do with falling domestic demand for oil imports due to the slack economy.

[ExpatOilWorker]

Somkiat might want to talk to Central Bank who just CUT forecasts for increases in gross domestic product for this year from 3.0% to 2.7%.

And frankly 2.7% is too optimistic.

How can Thailand still have a 2.7% increase in GDP when falling exports/imports are 70% of GDP?

How can the remaining 30% lift GDP so much?

[chiang mai]

How the Government sees it:

DG from Commerce Ministry, Somkiat Trirattanapan, said this was a continual decline for eight straight months - Nonetheless, the Trade Policy and Strategy Office would retain its export forecast at a deficit of 3 percent.

Meanwhile Commerce Minister Apiradi Tantaraporn said the ministry remains optimistic that rice exports for the year would reach 10 million tonnes as targeted while the ministry will try to expand exports in the last three months of the year.

How my stockbrokers (CIMB Thailand) reported it in their morning update today:

August figures plunge for eighth consecutive month!

As optimistic as the junta (and it's spinsters) may remain, the reality is the Thai economy continues to free-fall. Just have a look at the SET Index for this year!

And here's the UK FTSE, no difference really:

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/indices/summary/summary-indices-chart.html?index=UKX

https://uk.finance.yahoo.com/echarts?s=^FTSE

[chiang mai]

I think everyone is tightening belts everywhere. How long as the world been in recession? Since 2008? That's 7 years and not much improvement on the horizon? Thus its not a Thai problem.

+1

[Thian]

Germany is also in global economy, their exports are great.

Up until the Volkswagen debacle. I wouldn't buy a gddm thing from Germany into the future...

Countries including Thailand have to protect their export business by taking care of their customers. Thailand and Germany take care of themselves first and eventually it catches up with them.

And can you tell us who caused the global crisis by selling bad loans to all foreign banks?? Did they ever pay back all the ill-gained money?

[hugh2121]

How the Government sees it:

DG from Commerce Ministry, Somkiat Trirattanapan, said this was a continual decline for eight straight months - Nonetheless, the Trade Policy and Strategy Office would retain its export forecast at a deficit of 3 percent.

Meanwhile Commerce Minister Apiradi Tantaraporn said the ministry remains optimistic that rice exports for the year would reach 10 million tonnes as targeted while the ministry will try to expand exports in the last three months of the year.

How my stockbrokers (CIMB Thailand) reported it in their morning update today:

August figures plunge for eighth consecutive month!

As optimistic as the junta (and it's spinsters) may remain, the reality is the Thai economy continues to free-fall. Just have a look at the SET Index for this year!

Hmm, better than some, worse than others. Also look at the other indices around the world....no risers.

[ExpatOilWorker]

Capital is apparently also looking for the exit door.

http://www.cnbc.com/2015/09/30/

"......As far as monthly cumulative flows are concerned, Hungary and Thailand have had a particularly torrid time......"

[chiang mai]

Capital is apparently also looking for the exit door.

http://www.cnbc.com/2015/09/30/

"......As far as monthly cumulative flows are concerned, Hungary and Thailand have had a particularly torrid time......"

Page not found for me!

[ExpatOilWorker]

Capital is apparently also looking for the exit door.

http://www.cnbc.com/2015/09/30/

"......As far as monthly cumulative flows are concerned, Hungary and Thailand have had a particularly torrid time......"

Page not found for me!

http://www.cnbc.com/2015/09/30/rkets-have-worst-quarter-since-2008-global-crisis.html