Growth target in sight after Thai exports jumped 13 per cent in May

[rooster59]

Growth target in sight after Thai exports jumped 13 per cent in May

By THE SUNDAY NATION

 

 

THE Ministry of Commerce hailed an outstanding Thai export performance so far this year and voiced confidence that the 5-per-cent growth target would be achieved, the National News Bureau of Thailand (NNT) reported yesterday.

 

Exports in May grew by 13.2 per cent, the highest increase in 52 months, with a value of US$19.94 billion, according to Pimchanok Vonkorpon, director-general of the ministry’s Trade Policy and Strategy Office. 

 

She said that thanks to a global economic recovery, growth had picked up in every major market for Thai products and in every product category.

 

Agricultural and agro-industrial products, such as natural rubber, sugar, vegetables and fruit, and chicken meat, are doing particularly well. 

 

In industrial category, export growth has been recorded for three months in a row, especially rubber products, automobiles and parts, electrical circuits, and computers and parts, reflecting exporters’ competitiveness and ability to keep up with ever-changing world markets. 

 

Also in May, imports were worth $19 billion, an increase of 18.2 per cent. 

 

This resulted in a trade surplus of $944 million. For the first five months of this year, exports were valued at $93.26 billion and imports at $88.21 billion, allowing the country to enjoy a net surplus of $5.05 billion. 

 

Regarding the trend to export growth this year, Pimchanok cited the recovery of global economies as the main factor pushing Thai exports to do better than last year, with the annual growth rate estimated at 5 per cent. 

 

Source: http://www.nationmultimedia.com/news/national/30319023

 

 

-- © Copyright The Nation 2017-06-25

[Thechook]

I find this hard to believe, with the baht very high it is more expensive to buy Thai products.  13.2% growth, are international importers sourcing more expensive products to increase their profits?

[colinneil]

 

Reading this about 13.2%, it looks like they are using the same spin doctor as T.A.T.

 

[maewang99]

1 hour ago, Thechook said:

I find this hard to believe, with the baht very high it is more expensive to buy Thai products.  13.2% growth, are international importers sourcing more expensive products to increase their profits?

yeah, as to the last part of your post. not the first part.

 

the Baht is very very cheap. on Suon Dok you can still get a haircut for I think 70 THB.  which is $2. two American dollahs. try that in New York. $2. I pay 50 in Maewang. and those are good haircuts.  do you mean "very high" as compared to 1997? very good... look at a long term chart? what do you see? 50, 40, 30..... and not done yet.     

Thailand's economy is switching to ****consumption****, so is China's. 

a stronger Baht is good.  as for exports, it hasn't touched automotive airbag components.. not at all.... 1,000 on the attached chart is a billion THB..... in 4 weeks. do you see a trend... and how much is it affected by Baht movement? yeah, these are not "cheap products" maybe.

my chart tracks the import part of the story you referred to. on that, yes, I think so.
 

you know, one thing I love here.. easy to use.... very timely.... Thailand's monthly customs data.. by HS code.... is only rivaled by Japan's MOF.. as far as I am concerned. an excellent resource.

 

   

 

Edited June 25, 2017 by maewang99