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BANGKOK 17 June 2019 00:35
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Thai exports for April fall to the lowest level in 24 months

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Thai exports for April fall to the lowest level in 24 months

 

Thai-exports.jpg

 

Thailand’s exports in April fell 2.57% to US$18.5 billion – the lowest since May 2017. 

 

The fall is being blamed on the intensifying trade war between the United States and China, according to Ms. Pimchanok Wornkhorporn, Director of the trade policy and strategy office at the Ministry of Commerce.

 

Imports in April also dropped by 0.72% to about US$20 billion, resulting in a trade deficit of about US$1.5 billion, she said, adding that Thailand’s total exports for the first four months of this year amounted to US$80.5 billion, representing a 1.86% contraction compared to imports of U$79.9 billion, a  1.08% drop.

 

Full story: https://www.thaipbsworld.com/thai-exports-for-april-fall-to-the-lowest-level-in-24-months/

 

 

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-- © Copyright Thai PBS 2019-05-23

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12 hours ago, bangkokequity said:

The THB is getting WEAKER ... not "increasing its value"

Before you "LMAO" ... can you and Chelseafan please get a clue?

 

https://finance.yahoo.com/quote/THB%3DX

I believe there was sarcasm in that statement, but speaking of having a clue..... Your attachment indicates that the baht is sitting in the middle of a 52 week range.... hardly evidence of a drop within the cycle, more like steady. 

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3 hours ago, Chelseafan said:

That's only part of it. The EU removed Thailands GSP a few years ago on product categories such as Chicken & Shrimp making them far too expensive. Many retailers have spent the past few years switching their sourcing to the EU for chicken and Vietnam for shrimp. The Thais were a little arrogant in their thinking in that they thought the US would pick up the slack which they did but not as much as they needed. The US switched to India and domestic supplier.

Why would US/EU/OZ/other westies pick up anything if you side with China. Somnamnaa.

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17 minutes ago, Curmudgeon1 said:

I believe there was sarcasm in that statement, but speaking of having a clue..... Your attachment indicates that the baht is sitting in the middle of a 52 week range.... hardly evidence of a drop within the cycle, more like steady. 

Dude, take a chill pill, I see no sarcasm here ... and all I am saying is before we talk about currency, can we please understand that "going up in value" is the exact opposite of what is happening ... or should be expected by the thesis of this article, which is exports and the economy are slowing.  Signing off, I do not need to debate the absolute BASICS with you and your "expert" Thai Visa friends.

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Posted (edited)
7 minutes ago, Cadbury said:

To make matters worse the EU has just signed a free trade agreement with Vietnam.

Did they already sign?

 

Here's some info on that one: http://www.europarl.europa.eu/legislative-train/theme-a-balanced-and-progressive-trade-policy-to-harness-globalisation/file-eu-vietnam-fta

 

EDIT: That would have a real benefit for expats: EU grade goods available at reasonable prices. A huge plus.

 

EDIT2: Not a done deal yet:

 

Quote

Position of the European Parliament

The EP resolution of 17 December 2015 welcomes the conclusion of negotiations on the FTA, but expresses serious concerns about the human rights situation in Vietnam. Those concerns were reiterated in a September 2018 letter sent by a cross-party group of 32 MEPs to EU trade Commissioner Cecilia Malmström and EU High Representative Federica Mogherini, urging them to insist on improvements to the human rights situation in Vietnam, including implementation of ILO core conventions and the release of certain political prisoners, before the FTA can be ratified. At an October 2018 hearing organised by the EP's International Trade Committee (INTA), representatives of the Vietnamese government explained that Hanoi has an action plan to ratify the three remaining ILO core conventions, and to this end is currently working on a comprehensive overhaul of its Labour Code, expected to be adopted by October 2019; on the other hand, there are no signs that political repression is easing, as arrests and sentencing of activists continue. It remains to be seen how these developments will influence the European Parliament's position; some MEPs have called for the European Parliament to approve the FTA/IPA as soon as possible, but human rights concerns could result in the Parliament delaying or even withholding its consent.

In other words, Vietnam needs to get rid of the commies first.

Edited by DrTuner
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2 hours ago, legend49 said:

Increase its value to offset the loss. LMAO!

first time I ever saw this was in Pattaya MANY years ago.No customers  so the bar prices went up.I was astounded by the business acumen 

 

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"The fall is being blamed on anything and anyone but themselves the intensifying trade war between the United States and China"

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5 hours ago, webfact said:

The fall is being blamed on the intensifying trade war between the United States and China, according to Ms. Pimchanok Wornkhorporn, Director of the trade policy and strategy office at the Ministry of Commerce.

always easy to blame somebody else.... BTW a couple weeks ago they were all smiles anticipating exports increase to EU and US to cover lack of Chinese products

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5 hours ago, fishtank said:

And the baht will still rise.

Baht still rise because of the tourists and foreign retires who bring dollars but buy very less imported items. They subsidize the informal economy (like street vendors) and think doing a favor to the economy where as they are in fact destroying the export economy of Thailand and perpetuating informal economy that does not pay taxes. 

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