Exports for October drop 4.2%

 

 

BANGKOK: -- The Trade Policy and Strategy Office of the Ministry of Commerce says exports for October declined by 4.2% causing worries for the country's economic growth.

 

But the private sector remains optimistic that exports for the whole year will contract less than 1%.

 

In its released economic figures, exports for October of 2016 amounted to 17.783 billion baht, representing a 4.2% contraction.

 

It said if figures for oil and gold commodities are excluded, this would mean that total exports contracted by 2.8%.

 

The Ministry attested this to a major drop in industrial exports which has contracted by 2.7%, the first time that it has done so in a period of 3 months.

 

Processed petroleum products exports fell by a significant 27% while exports for automobiles and automotive related industries fell by 5.8%.

 

Furthermore, agriculture products exports also fell by 8% which is attributed to a drop in sugar, rice and cassava exports.

 

But exports figures for the first 10 month period however showed a drop of only 1% which is significantly better than the overall export statistic which fell by 4.1%.

 

Full story: http://englishnews.thaipbs.or.th/exports-for-october-drop-4-2/

 

-- © Copyright Thai PBS 2016-11-29

3 hours ago, webfact said:

BANGKOK: -- The Trade Policy and Strategy Office of the Ministry of Commerce says exports for October declined by 4.2% causing worries for the country's economic growth.

 

But the private sector remains optimistic that exports for the whole year will contract less than 1%.

Caution Spin doctors at work.  

56 minutes ago, elgordo38 said:

Caution Spin doctors at work.  

Mathematics never lie; except at the Trade Policy of the Min of Commerce, where 1+1= from 2-6 !

Wow, didn't know Thailand exported oil products and gold.

10 hours ago, webfact said:

But the private sector remains optimistic that exports for the whole year will contract less than 1%.

This prediction is even more dire than BOT's prediction in January 2016 of zero export growth!

 

When exports have accounted for 70% of GDP, any contraction is a serious detriment to achieving total GDP growth. What's left for growth are tourism (10% of GDP) and domestic consumption (20% of GDP) stemming from private and government investment. Both are inadequate to deliver substantial growth at a level greater than that of 2015 ,and in particular government investment in infrastructure contribution to GDP growth is long-term and questionable impact on growth. Thailand may be approaching the point where domestic private investment will begin to flee Thailand for better economic returns.

16 hours ago, Srikcir said:

This prediction is even more dire than BOT's prediction in January 2016 of zero export growth!

 

When exports have accounted for 70% of GDP, any contraction is a serious detriment to achieving total GDP growth. What's left for growth are tourism (10% of GDP) and domestic consumption (20% of GDP) stemming from private and government investment. Both are inadequate to deliver substantial growth at a level greater than that of 2015 ,and in particular government investment in infrastructure contribution to GDP growth is long-term and questionable impact on growth. Thailand may be approaching the point where domestic private investment will begin to flee Thailand for better economic returns.

Yes your right. At less than $10 a hour sorry a day wages are getting to high here. Cambodia now is different. They are passing a new labor law that is a dozzie. All the head of labor walked out of the meeting. I hear all this talk of slavery and governments trying to stamp it out. I have come to the conclusion that it exist on different tiers. Stamping out tier 1 looks good in the press but what about the the other tiers?