Thai Commerce Ministry: 2016 exports growth will likely reach 5%

[webfact]

Commerce ministry: 2016 exports growth will likely reach 5%


File photo. Source Internet

BANGKOK, 22 January 2016 (NNT) - The Ministry of Commerce will cooperate with all sectors in penetrating important markets as part of its policy to stimulate exports in 2016. The ministry has forecast that Thai exports will be able to hit a 5% growth target this year.

Minister of Commerce Apiradee Tantrapornon Thursday said that Deputy Prime Minister Somkid Chatusripitak had set the Thai export growth target at 5% with a focus on major markets with high potential, including China, India, Japan, the U.S. and ASEAN.

The ministry would also focus on boosting the border trade and e-commerce and bringing Thai agricultural products to the global market, said Ms.Apiradee.

The minister added that the private sector wanted the government to help develop Thai brands and asked the Export-Import Bank of Thailand to consider increasing financial assistance for SMEs such as by raising their loan limits and credit guarantees.


-- NNT 2016-01-22

[thesetat2013]

E-commerce will fall due to their single gateway they just funded and approved. As much as I would like things to get better here and to see businesses booming I wish just the opposite for any actions which limit peoples freedom to surf the world or have internet content monitored or blocked. I just hope they realise that their plan to become aseans HUB will fail because of that stupid gateway. I don't think many new bushiness will be using Thailand as a home for their internet business as well.

[Nbarch]

Excellent new!

I think the government has the correct figure; except that with the downturn in China’s economy and general worldwide slowdown, they should have put a minus sign in front. Anyway, it will hailed as another success story.

[patekatek]

An exchange rate of 45 baht to the dollar might generate enough incentive to increase exports to the extent the Thai "experts" expect. It's like a bunch of ostriches with their heads in the sand making these bold financial predictions. Apparently they haven't noticed the rest of the world imploding on itself lately. Perhaps I'm overstating things a bit, but I doubt the rest of the world is ready to substantially increase imports of products made or grown in Thailand.

[ChrisY1]

An exchange rate of 45 baht to the dollar might generate enough incentive to increase exports to the extent the Thai "experts" expect. It's like a bunch of ostriches with their heads in the sand making these bold financial predictions. Apparently they haven't noticed the rest of the world imploding on itself lately. Perhaps I'm overstating things a bit, but I doubt the rest of the world is ready to substantially increase imports of products made or grown in Thailand.

Rest of the world ????? .....There is no rest of the world...Thailand is actually the centre of the world......

[JAG]

Commerce Ministry said 5%.

Standard Chartered said 4%.

A hub of growth projections (possibly)!

[Srikcir]

Commerce Ministry said 5%.

Standard Chartered said 4%.

A hub of growth projections (possibly)!

Commerce Ministry forecast refers only to export growth.

Standard Chartered forecast refers only to GDP growth that incorporates growth of exports. (2016-01-21)

But with exports historically accounting for 70% of GDP growth, it would be an economic impossibility for the average GDP growth to be higher.

But Chartered did forecast that the export sector could grow by as much as 3% in 2016 (2016-01-21). Meanwhile, Thai Military Bank’s research centre predicted that Thailand’s exports should grow at 1.8% in 2016 (2016-01-12), Thai National Shippers’ Council forecasted a 2% export growth for exports for 2016 ((2016-01-12), and the Bank of Thailand expects export growth to be 0% (as in flat) for 2016 (The Nation 2016-01-04).

So as an export growth TARGET, a 5% increase in exports borders on economic lunacy.

[JAG]

Well economics is a black art to me - but I am quite willing to believe you.!

[sawadee1947]

sure, if the ministry will tell us, then it is only the truth...

[elgordo38]

An exchange rate of 45 baht to the dollar might generate enough incentive to increase exports to the extent the Thai "experts" expect. It's like a bunch of ostriches with their heads in the sand making these bold financial predictions. Apparently they haven't noticed the rest of the world imploding on itself lately. Perhaps I'm overstating things a bit, but I doubt the rest of the world is ready to substantially increase imports of products made or grown in Thailand.

Kind of reminds me of 1997. When the IMF looked into the cupboard it was bare. These prediction guys should stay away from poker tables. We will huff and puff till we blow your house down.

[elgordo38]

Well economics is a black art to me - but I am quite willing to believe you.!

With all these rubber numbers flying around it should solve the rubber oversupply problem in the country.

[elgordo38]

sure, if the ministry will tell us, then it is only the truth...

They talk like they are an island unto themselves with calm offshore winds. What was the name of that song with the word Hurricane in it? Like a hurricane or something geeze the old grey matter is really slowing down.