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Thailand continues 18 month growth spurt as exports rise 6.7 per cent

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Thailand continues 18 month growth spurt as exports rise 6.7 per cent

By The Nation

 

The total value of Thailand's exports rose 6.7 per cent year on year to US$22.79 billion (Bt1.23 trillion) in August, recording continuous growth for 18 months, according to the Ministry of Commerce.

 

The Director of the Trade Policy and Strategy Office, Pimchanok Vonkorpon, said that the value on imports hit US$23.38 billion in August, up 22.8 per cent year on year, resulting the country's trade deficit of US$588 million.

 

Thailand's total export value for the first eight months of this year was US$169.03 billion, up 10 per cent year on year. The total value of imports in the first eight months of this year was US$166.67 billion, up 15.9 per cent year on year, resulting in a trade surplus of US$2.35 billion.

 

Pimchanok said that the growth of total exports in August was due to higher overseas sales on industrial goods, by 5.8 per cent, as well as exports of oil-related products, auto parts, as well as cosmetics and acne treatment products, which jumped by 50.6 per cent year on year. Fresh vegetables, fruits, cassava and rice were up 4.1 per cent.

 

Source: http://www.nationmultimedia.com/detail/Economy/30354971

 
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-- © Copyright The Nation 2018-9-21
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all I know is my ''Jiff peanut butter and smuckers jam on toast'' is up 10%....at this rate I will be eating my toast dry for Christmas

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1 hour ago, snoop1130 said:

cosmetics and acne treatment products, which jumped by 50.6 per cent year on year.

Great news that cosmetics and acne treatment products, fake or otherwise, is one of Thailand's success stories. A 50.6% jump in exports. Wow!

Thailand now the world hub of acne prevention. 

 

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4 minutes ago, Cadbury said:

Great news that cosmetics and acne treatment products, fake or otherwise, is one of Thailand's success stories. A 50.6% jump in exports. Wow!

Thailand now the world hub of acne prevention. 

 

Figures on that could be spot rate.

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"total value of Thailand's exports rose 6.7 per cent year on year to US$22.79 billion (Bt1.23 trillion)"

A bit of a reality check for the guys who threaten to leave Thailand and go live in Cambodia and think anyone cares or needs them.

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19 hours ago, snoop1130 said:

 . . . . imports hit US$23.38 billion in August, up 22.8 per cent year on year, resulting the country's trade deficit of US$588 million.

Imports up 23% in August - that's month 8, right? - giving trade deficit of $588M for the month. Clearly, August exports must have hit $23.968, for the deficit to be $588M, as stated. Not a good month in anyone's books, yet Pimchanok quotes some impressive export gains on a variety of produce. There, must, on the opposite side of the coin, have been some even more impressive increases on certain import values, but none of these are quoted. YET . . .

19 hours ago, snoop1130 said:

The total value of imports in the first eight months of this year was US$166.67 billion, up 15.9 per cent year on year, resulting in a trade surplus of US$2.35 billion.

 . . . he states that the entire 8 months of 2018, with imports up 16%, resulted in a trade surplus of $2.35B. A modest surplus but better than a kick up the pants in anyone's books. Without getting out my trig tables and relying, instead, on logic, reasoning and gut-feeling, for a surplus-generating 8 months to be closed by a heavy-loss-making month 8, months 1 to 7 must have been well into the surplus side; i.e. trade figures, from 7mths to 8mths have worsened seriously, unless I've missed something.

My question, therefore, is why, after a disastrous August has resulted in the slimmest of surpluses for the 8 month period, Pimchanok is raising the roof. 'What the hell happened in August?' is what most folk will want to know. We'll find out in due course, no doubt, when he's had the obligatory 3 months to 'mull over' the figures.

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Now that they will start building Harley Davidson bikes here, imports ought to drop enough for a trade surplus.

Way to go Donald...

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Does this include exports of air pollution ?

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10 hours ago, Dave67 said:

Does this include exports of air pollution ?

Not sure, but they do export heaps of plastic via Ocean Road... probably needed the submarines to increase payload

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