webfact Posted July 6, 2016 Share Posted July 6, 2016 Thai exports continue to slump further after BrexitBANGKOK, 7 July 2016 (NNT) - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has revised its export growth forecast to 2% contraction, after Britain made the decision to leave the European Union (EU).The JSCCIB revised its forecast after the Brexit referendum triggered volatility in global financial markets. Thai exports, which already shrank 1.9% in the first five months of the year, are expected to worsen during the remainder of 2016. The committee revised export growth for this year from to 2% growth to -2 to 0%.Despite negative signs in the export sector, the JSCCIB has maintained its overall economic growth forecast for the country at 3%. It said the Thai economy will continue to be driven by government spending, tourism and increasing auto sales.The JSCCIB also hoped the US decision to upgrade Thailand to Tier 2 on its Trafficking in Persons report, along with the country’s efforts to stop illegal, unreported, and unregulated fishing will eventually promote export growth. -- NNT 2016-07-07 Link to comment Share on other sites More sharing options...
Reigntax Posted July 6, 2016 Share Posted July 6, 2016 Yes, blame it on Brexit even though as yet, nothing has changed and ignore the real issues. Strange how most other SE Asian countries are not having the same problem. I suppose, unlike Thailand, they are not the centre of the universe and unable to accurately forecast like the superior economic brains gifted to the junta. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted July 6, 2016 Share Posted July 6, 2016 I'm presuming the phrase ' superior economic brains gifted to the junta ' is a euphemism for ' making things up as they go ' which is the hallmark of much that happens here. Link to comment Share on other sites More sharing options...
neverdie Posted July 6, 2016 Share Posted July 6, 2016 Yesterday as I left the house I stubbed my toe. This nasty stubbing happened due to Brexit and I'm not happy about it. Link to comment Share on other sites More sharing options...
MaiChai Posted July 6, 2016 Share Posted July 6, 2016 (edited) Probably the latest floods in Bangkok are due to Brexit. Whatever happens in the world Thailand must be part of it rather than not related at all. I do recall the world was heading into more of a recession before Brexit happened. But what would i know? Edited July 6, 2016 by MaiChai Link to comment Share on other sites More sharing options...
NongKhaiKid Posted July 6, 2016 Share Posted July 6, 2016 I'm sure many in LoS will be praying the Brexit negotiations take forever so they have that very handy excuse around for a long time. Link to comment Share on other sites More sharing options...
streetsweeper Posted July 6, 2016 Share Posted July 6, 2016 The sky isn't falling! It is the earth that is rising! Thai logic may well be the model for future comic book series in which comments from the bystanders on the streets cast cynical observations about their super-heroes. Link to comment Share on other sites More sharing options...
Thechook Posted July 6, 2016 Share Posted July 6, 2016 Damn foreigners again Link to comment Share on other sites More sharing options...
maewang99 Posted July 7, 2016 Share Posted July 7, 2016 (edited) The big headlines stories are scary. But there is still plenty of good things going on. If you read yesterday that 20 year Japanese debt went negative for the first time ever... even for Japan..... you would think the world is ending. It's not. Neither Is Thailand. Edited July 7, 2016 by maewang99 Link to comment Share on other sites More sharing options...
kingalfred Posted July 7, 2016 Share Posted July 7, 2016 What a nonsense news report. Link to comment Share on other sites More sharing options...
thai3 Posted July 7, 2016 Share Posted July 7, 2016 Thailand 'braced' for Brexit, that may never even happen Link to comment Share on other sites More sharing options...
Rob8891 Posted July 7, 2016 Share Posted July 7, 2016 Last week the headlines were that Brexit would have little or no effect. Sneaky Brexit! You upset Thailand. Stop keeping the baht artificially high, you clowns....make your exports more attractively priced and pull in more western tourists. Link to comment Share on other sites More sharing options...
daveAustin Posted July 7, 2016 Share Posted July 7, 2016 (edited) 99.99% of Thais on Brexit: <deleted> is Brexit? Edited July 7, 2016 by metisdead Profane acronym removed. Link to comment Share on other sites More sharing options...
NongKhaiKid Posted July 7, 2016 Share Posted July 7, 2016 (edited) Thailand 'braced' for Brexit, that may never even happen Even if it does happen it can, supposedly, take up to two years to complete all negotiations and formalities. LoS is rarely prepared for anything so I can't imagine them being in the ' brace position ' for a couple of years. ' Uncertainty over Brexit ' will simply be a convenient cover all excuse likely to become overworked. Edited July 7, 2016 by NongKhaiKid Link to comment Share on other sites More sharing options...
kalbo123 Posted July 7, 2016 Share Posted July 7, 2016 (edited) Did I not read just before the English referendum that a possible Brexit would have no effect on the Thai economy as the export to GB is only 1-2%? Edited July 7, 2016 by kalbo123 Link to comment Share on other sites More sharing options...
gandalf12 Posted July 7, 2016 Share Posted July 7, 2016 It is sad when business is tilted in your favour and you still can not get growth Link to comment Share on other sites More sharing options...
chainarong Posted July 7, 2016 Share Posted July 7, 2016 The Exports were slumping before Brexit so it is immature to think that as exports continue to slump it is because of Brexit, next you'll be saying the flood waters rising around BKK are caused by the drought...................................................... .. Link to comment Share on other sites More sharing options...
Srikcir Posted July 7, 2016 Share Posted July 7, 2016 Exports were contracting before Brexit for the last five months cummulating in a 14%+ decrease and continue to contract after Brexit. While Brexit may cause additional contraction, it obviously is not the root cause. It's also clear that contraction has continued despite government spending and increased tourism. So far as car sales are concerned, domestic sales have fallen short with Toyota recently cutting its employee roll by 40%. When JSCCIB predicts bad economic news, things are getting really bad. Just compare to the July 4th prediction by The Thai Chamber of Commerce that the nation will end the year 2-3% up on exports. Link to comment Share on other sites More sharing options...
cumgranosalum Posted July 7, 2016 Share Posted July 7, 2016 I see the BRexiteers are still in denial...... Link to comment Share on other sites More sharing options...
Caveat Emptor Posted July 7, 2016 Share Posted July 7, 2016 Oh No, just had a horrible thought, will we now see a Tourism Ministry and TAT campaign to welcome everyone from Brexit as tourists ? Link to comment Share on other sites More sharing options...
cumgranosalum Posted July 7, 2016 Share Posted July 7, 2016 Oh No, just had a horrible thought, will we now see a Tourism Ministry and TAT campaign to welcome everyone from Brexit as tourists ? they are already here - have you not seen the fat, skinhead English expats hugging their Changs outside the Family mart? Link to comment Share on other sites More sharing options...
Thian Posted July 7, 2016 Share Posted July 7, 2016 I get tired of all guessed consequences of the Brexit. What exports is Thailand talking about? If the E-European workers all have to leave the UK there will be loads of new jobs for the Brits. And working people go on holiday and have more to spend. Also the Brits want their own fishingindustry back, maybe that might harm Thai fishexports i don't know but what produce are they talking about? Link to comment Share on other sites More sharing options...
kingalfred Posted July 7, 2016 Share Posted July 7, 2016 I see the BRexiteers are still in denial...... the Remainiacs are the ones who don't get it. Along with the EU that denies it's a failure and that will hasten its demise ! Link to comment Share on other sites More sharing options...
Winniedapu Posted July 7, 2016 Share Posted July 7, 2016 (edited) I really don't understand this clownshow. First they say the Thai economy won't be affected by the Brexit. Then they say it will be affected, but slowly and not yet. Now they imply that Brexit has already affected the Thai economy. even though Bexit was less than one week ago, but that (presumably due to Humpty's amulets), the Brexit effect will be gone in time for a magical recovery in the Thai economy to show 3% growth year-on-year. It's really hard to keep up with these clowns, but I suppose that's 'Thainess' for you... Winnie Edited July 7, 2016 by Winniedapu Link to comment Share on other sites More sharing options...
cumgranosalum Posted July 7, 2016 Share Posted July 7, 2016 I get tired of all guessed consequences of the Brexit. What exports is Thailand talking about? If the E-European workers all have to leave the UK there will be loads of new jobs for the Brits. And working people go on holiday and have more to spend. Also the Brits want their own fishingindustry back, maybe that might harm Thai fishexports i don't know but what produce are they talking about? Some people say Brexiteers aren't dim - but it is difficult to agree with this when you see a post like this one! "If the E-European workers all have to leave the UK there will be loads of new jobs for the Brits." - 3 out of ten for schoolboy economics. "Also the Brits want their own fishingindustry back" - you can't have a fishing industry with no fish. Link to comment Share on other sites More sharing options...
Thaddeus Posted July 7, 2016 Share Posted July 7, 2016 Why is there no picture of someone in uniform pointing to the UK on a map? No.... wait. Link to comment Share on other sites More sharing options...
dageurreotype Posted July 7, 2016 Share Posted July 7, 2016 The big headlines stories are scary. But there is still plenty of good things going on. If you read yesterday that 20 year Japanese debt went negative for the first time ever... even for Japan..... you would think the world is ending. It's not. Neither Is Thailand. Indeed they are. Anyone would think the pro establishment corporate owned mainstream media who frenziedly cherry picking anything remotely negative regards Brexit (A Brexiter Ate My Hamster), had an agenda http://blogs.spectator.co.uk/2014/02/the-millions-in-eu-funding-the-bbc-tried-to-hide/ Link to comment Share on other sites More sharing options...
elgordo38 Posted July 7, 2016 Share Posted July 7, 2016 Yes, blame it on Brexit even though as yet, nothing has changed and ignore the real issues. Strange how most other SE Asian countries are not having the same problem. I suppose, unlike Thailand, they are not the centre of the universe and unable to accurately forecast like the superior economic brains gifted to the junta. From plus 2 to minus 2 sure gives them a lot of leeway. The new normal for the word good is "things were bad but not as bad as we expected" equals good now. Its all double speak, spin, voodoo economics, new normal is (bad) tomorrow will be a better day kind of mentality prevailing today among ringmasters of the game now before us. Popcorn anyone? What happened to the tigers jumping through hoops of fire? Wish we could substitute politicians for tigers. Link to comment Share on other sites More sharing options...
Thaddeus Posted July 7, 2016 Share Posted July 7, 2016 Yes, blame it on Brexit even though as yet, nothing has changed and ignore the real issues. Strange how most other SE Asian countries are not having the same problem. I suppose, unlike Thailand, they are not the centre of the universe and unable to accurately forecast like the superior economic brains gifted to the junta. From plus 2 to minus 2 sure gives them a lot of leeway. The new normal for the word good is "things were bad but not as bad as we expected" equals good now. Its all double speak, spin, voodoo economics, new normal is (bad) tomorrow will be a better day kind of mentality prevailing today among ringmasters of the game now before us. Popcorn anyone? What happened to the tigers jumping through hoops of fire? Wish we could substitute politicians for tigers. They found out that tigers can eat conjurers sometimes. Link to comment Share on other sites More sharing options...
RandolphGB Posted July 7, 2016 Share Posted July 7, 2016 The problem isn't Brexit, it's that Thailand has the highest Ex-works charges in Asia. The Gmnt is protectionist in its outlook. They started a crackdown on customs documents at the beginning of this year making it harder to export. Link to comment Share on other sites More sharing options...
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