Thai Commerce Min forecasts 5% export growth in 2016

[webfact]

Min of Commerce forecasts 5% export growth in 2016



BANGKOK, 22 December 2015 (NNT) - The Ministry of Commerce is confident the government’s economic stimulus measures will push export growth to 5% next year.

Director-General of the Department of International Trade Promotion (DITP) Malee Chokelamlert said the department is determined to increase export growth to 5% next year.

She cited several positive indicators, including the Thai government’s investment incentives in 10 target industries, as well as forecasts by the International Monetary Fund, indicating that the global economy and exports will expand by 3.6% and 2.4%, respectively.

The DITP is expected to boost bilateral trade with the United States and European Union to 3% and 2.8%, respectively. However, trade between Thailand and Russia is still expected to contract by 15%.

Regionally, Mrs. Malee said that her department will raise export volume by 6% to countries within the ASEAN region and 13.6 % to the CLMV region, or Cambodia, Laos, Myanmar and Vietnam.

The Ministry of Commerce will also adopt seven strategies to promote the export sector. They involve setting up cooperation with other nations, promoting the export of Thai products to other countries proactively, as well as border trade

Other strategies consist of encouraging Thai manufacturers to seek oversea investments, improving trade services, promoting the role of small and medium enterprises in the export sector and increasing the product value of exports.


-- NNT 2015-12-22

[anon467848]

"push export growth to 5% next year." You're having a laugh... dream on..

[GarryP]

And then she woke up.

[shirtless]

I surprised she didnt declare 7.7% growth , then she can slowly drip feed the real figures through next year, must be part of the governments happiness campaign .

[NongKhaiKid]

Poor dear must be feeling left out, why should the Minister of Tourism be the only one that gets to play the game of ' Fantasy Figures ' ?

[thesetat2013]

Back in la-la land again. Keep on dreaming and don't forget to fudge those numbers all year so you can save some face

[Charly2007]

Funny outlooks!!!

[Bullie]

Well, she actually does have a point. I fully understand her confidence.

Provided, of course, that the cows AND the roosters come home and to roost respectively, and the baht decreases in value let's say, ahhh, about 15 %?!

[Lupatria]

What else is to expect in a country where superstition and astrologers are of higher value than science and skilled academics?

[Roota]

5% sounds pretty reasonable, barring any new crises. According to World Bank figures, Thailand's annual export growth for 2010-2014 averaged just short of 5.5%, and that was a pretty rocky five years. For 2005-2014 the average was almost 10%. So it's slowing, but is still at a rate that would be the envy of many countries.

[Srikcir]

"The Ministry of Commerce is confident the government’s economic stimulus measures will push export growth to 5% next year."

Really?

Yesterday, Nopporn Thepsithar, chairman of the Thai National Shippers Council said, "The council now forecasts export value growing by more than 2 per cent next year, a change from the previous expectation of less than 2 per cent."

And just previous to that statement was the National Economic and Social Development Board (NESDB) and the Fiscal Policy Office, as well as Kasikorn Research and Siam Commercial Bank's Economic Intelligence Centre, forecast of economic growth of at least 3 per cent next year.

Since exports account for 70% of GDP growth, it's unlikely that exports will exceed the overall predicted average overall growth rate of 3%.

[sharecropper]

The words "confident" "determined" and "possible" in the opening sentences tell you what you can do with the fanciful stats in this "government"-fluffing puff piece...

BANGKOK, 22 December 2015 (NNT) - The Ministry of Commerce is confident the government’s economic stimulus measures will push export growth to 5% next year.

Director-General of the Department of International Trade Promotion (DITP) Malee Chokelamlert said the department is determined to increase export growth to 5% next year.

She cited several positive indicators,........

[elgordo38]

"push export growth to 5% next year." You're having a laugh... dream on..

Like pushing on a string. Even if they stated a modest 2 to 3% I would scratch my head. I am going to mark this one on the calendar.

[retarius]

This seems unlikely given how exports are diving now, the reliance on old tech products, and the world economic situation.

[waldroj]

These clowns really need to be held accountable for their outrageous forecasts.

You really have to ask yourself what they actually do to earn their high salaries.

Exports have shown a downward trend since junta-head stole the show. And with the drought expected to bite hard in 2016, it's going to be really hard to see an improvement in exports soon (especially if the EU aren't satisfied with improvements in the fishing industry).

[Redline]

I want whatever she's on~trippin