Export shipments for the first quarter are expected to shrink 5 percent

[webfact]

Export shipments for the first quarter are expected to shrink 5 percent



BANGKOK: -- Export shipments for the first quarter of this year are expected to contract by 5 percent due to global economic downturn instead of 2 percent growth as earlier projected, said Mr Nopporn Thepsittha, president of Thai National Shippers Council, on Wednesday.

He pointed out that shipments for January contracted 8.91 percent to US$ 15.7 billion constituting steady drop 13 months in a row and the lowest in 50 months.

Caught in the middle of economic war between the US and China, Mr Nopporn suggested that Thailand cannot live alone and must properly position itself without tilting in favour of either party.

He projected that ships for the months of February and March would average US$17 billion and for the first quarter shipments are expected to drop by 5 percent.

Nevertheless, he is optimistic that shipments for the whole year could be as much as last year’s US$ 214 billion which means shipments must average US$ 18.5 billion each month.

The shippers council president urged exporters to try to expand new markets for their exports especially markets in Asean countries namely Myanmar, Laos, Cambodia and Vietnam where the economy is growing at 3-4 percent.

Source: http://englishnews.thaipbs.or.th/content/153257


-- Thai PBS 2016-03-03

[Jessi]

Playing with the numbers again!!!

De value the Baht MIGHT HELP.

[inaktive]

again .. how could they not see that month in advance ?

devalue the THB and clean up your corruption

[Hawk]

Exports decline every month, economy is in a mess but the baht remains artifically too high. Will the government ever learn?

No, because their priorities lie elsewhere.

[Srikcir]

President of Thai National Shippers Council Export Mr Nopporn Thepsittha says shipments for the first quarter of this year are expected to contract by 5 percent due to global economic downturn instead of 2 percent growth as earlier projected

KAPOW, BAM, BONK!!!

Just yesterday the Thai National Shippers’ Council projected that no export expansion will be seen this year.

Forget about recent GDP growth predictions by:

- the Federation of Thai Industries chairman Suphan Mongkolsuthee for 3% to 3.5% with exports for 2016 may growing 2% year-on-year;

- Governor of the Bank of Thailand Veerathai Santiprabhob for 3.5% this year;

- Thailand Development Research Institute Director Kirida Phaophichit for 3.5%; and lastly

- Deputy Prime Minister for Economic Affairs Somkid Chatusripitak for 2.8% - 3%.

The Thai economy will fail to grow better than last year’s 2.8% and likely contract to 2.5% at best.

Furthermore, the Ministry of Commerce recently projected a 0-1% inflation rate this year on the condition that the Thai economy expands 2.8-3.8%. A 5% contraction in exports even for one quarter will likely lead to more negative inflation. This will put pressure on the BOT to again cut (0.5%?) interest rates in order to retain and attract investment capital necessary for growth.

Might we see 38 baht to 1 USD in April?

[trainman34014]

No surprises here....move along please.

[djlissa]

I wouldn't count on 38Baht/usd. Jan. 1 36.035 and closed yesterday at 35.350 about 2% increase so far this year ... seems to be tracking along the lines of the yen and unless the feds raise rates I don't see it moving up anytime soon

[noosard]

Caught in the middle of economic war between the US and China, Mr Nopporn suggested that Thailand cannot live alone and must properly position itself without tilting in favour of either party.

Now we are telling porkies

Or using porkies for excuses