EXIM Bank outlines short and long term trade impacts of Brexit for Thailand

[webfact]

EXIM Bank outlines short and long term trade impacts of Brexit for Thailand

BANGKOK, 27 June 2016 (NNT) – Export-Import Bank of Thailand (EXIM Bank) has pointed demand for imports from Thailand in the United Kingdom could be depressed in the short term after it voted to the leave the European Union.

EXIM Bank’s business research division has pointed out the Brexit, despite likely to take at least 2 years to be realized, could reduce Thai exports to the UK in the near term. It explained that as the British Pound has lost value, demand for extraneous goods such as auto parts will drop. Nonetheless, it noted that exports to the UK make up only a small fraction of the nation’s trade and should not have a major impact on the economy or industries. A sector to see significant impact is processed chicken, of which 28 percent of exports go to the UK.

On tourism, the bank pointed out British tourists make up only 3.2 percent of all visitors to the nation, meaning a reduction in travelers would not impact the country, especially as markets such as China and Russia continue to grow.

EXIM Bank highlighted that in the long term, the Brexit may be beneficial to Thailand as the UK will no longer be bound by the regulations of the EU, meaning it won’t be limited by import quotas and will be able to increase trade with Thailand.


-- NNT 2016-06-27

[clockman]

Nobody knows, pure speculation. Better to speak to the fortune teller!

[elgordo38]

Nobody knows, pure speculation. Better to speak to the fortune teller!

Has to be related to the TAT lady. Another sleep sheep counter.

[jeffreysearch]

Nobody knows, pure speculation. Better to speak to the fortune teller!

Pound Plummets To New Lows; 10Y Gilts Slide Under 1%; British Banks Halted After Crashing

Things are going from bad to worse for the UK. "We’ve seen so many developments around Brexit over the weekend since the FTSE closed and things are now looking even more concerning," Angus Nicholson of IG Ltd., said. "It’s hard to have any idea about where fair value for the pound should be when you look at the fact that Scotland and Northern Ireland could no longer be part of the U.K. within the next year or two."

[Saraphee]

Nobody knows, pure speculation. Better to speak to the fortune teller!

They obviously have been doing so!

[salavan]

" meaning it won’t be limited by import quotas and will be able to increase trade with Thailand."

thats good they will be able to increase their debt from 3 trillion to 4 trillion pounds

[salavan]

Nobody knows, pure speculation. Better to speak to the fortune teller!

Pound Plummets To New Lows; 10Y Gilts Slide Under 1%; British Banks Halted After Crashing

Things are going from bad to worse for the UK. "We’ve seen so many developments around Brexit over the weekend since the FTSE closed and things are now looking even more concerning," Angus Nicholson of IG Ltd., said. "It’s hard to have any idea about where fair value for the pound should be when you look at the fact that Scotland and Northern Ireland could no longer be part of the U.K. within the next year or two."

pity the welsh didnt p.ss off instead

[organic]

"On tourism, the bank pointed out British tourists make up only 3.2 percent of all visitors to the nation, meaning a reduction in travelers would not impact the country, especially as markets such as China and Russia continue to grow."

Maybe in terms of numbers, but what about overall spend?

Also it's not just the British, Brexit dragged down the Euro and several European stock markets ended up much further down than Britain's on the first day.

If I was still running a tourist-related business out there, I'd be somewhat worried about the coming high season.