webfact Posted June 5, 2019 Share Posted June 5, 2019 Commerce Ministry: Export drops due to trade war BANGKOK (NNT) - Thailand’s export sector has raised concerns due to a trade war between the United States and China, which has been attributed to a decline in the volume of export cargoes by mercantile ships from this country. This year’s export growth has been reduced to 1% from 3% earlier forecast. New export markets are being sought and exporters will hold talk with the Ministry of Commerce shortly. Kanyaphak Tantiphiphatphong, president of the Thai National Shippers Council, said Thailand’s export sector made a combined 18.5 billion dollars in April, accounting for a 2.6% drop from the same period last year. That was due to the U.S.-China trade war and a world economic slowdown. Thai exports to the Chinese markets have largely dropped for four consecutive months since January. The Thai National Shippers Council has readjusted this year’s export growth to 1%, compared to 3% earlier forecast. That is obviously lower than the Ministry of Commerce’s projected growth. Though the Thai goods export to China has dropped, that to the U.S. has risen, following an increase in the U.S. import tariffs for Chinese goods. Thailand was seeking new export markets such as secondary Chinese provinces and India. The Thai National Shippers Council has planned to hold talk on export promotion measures with the Ministry of Commerce. -- © Copyright nnt 2019-06-06 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
davehowden Posted June 5, 2019 Share Posted June 5, 2019 "That was due to the U.S.-China trade war and a world economic slowdown." And an overpriced baht maybe ? Link to comment Share on other sites More sharing options...
neeray Posted June 5, 2019 Share Posted June 5, 2019 2 hours ago, webfact said: Export drops due to trade war Maybe. Or maybe "trade war" is just a good excuse for the drop. Link to comment Share on other sites More sharing options...
smedly Posted June 5, 2019 Share Posted June 5, 2019 How does a trade issue between China and the US affect Thailand - it doesn't what might have an impact is the strength of the BAHT and the Tourist industry which is an export - yes tourism happens in Thailand but it is an export We have heard of a deserted Phuket and slow business in other tourist regions - The Thais have priced themselves out of the tourist market - people from the west are going elsewhere Greed has caught up with them Walking street in Pattaya would be a vibrant buzzing area like it used to be if the <deleted> running things hadn't got so greedy - now it really is a "walking street" Link to comment Share on other sites More sharing options...
Cadbury Posted June 5, 2019 Share Posted June 5, 2019 2 hours ago, webfact said: Commerce Ministry: Export drops due to trade war Could it be that Thailand for the past 5 years had economic imbeciles running the country? Some other countries are making a motza out of the trade war. Vietnam has come out the big winner with a 7.9% increase in exports to the US. I don't see Thailand mentioned anywhere. Does this give you a clue where this country is economically headed under a junta government? No need for me to say more other than refer to this story. https://www.dw.com/en/vietnam-taiwan-winning-the-us-china-trade-war/a-49068586 Link to comment Share on other sites More sharing options...
Burma Bill Posted June 6, 2019 Share Posted June 6, 2019 4 hours ago, davehowden said: "That was due to the U.S.-China trade war and a world economic slowdown." And an overpriced baht maybe ? My thoughts as well. Thai export products have become costly and there are much cheaper exporters elsewhere in ASEAN. Link to comment Share on other sites More sharing options...
Srikcir Posted June 6, 2019 Share Posted June 6, 2019 5 hours ago, webfact said: Thailand was seeking new export markets such as secondary Chinese provinces and India. Iran and Venezuela might be potential oil-for-food trade partners. If Thailand wants NSA Bolten's attention. Link to comment Share on other sites More sharing options...
Srikcir Posted June 6, 2019 Share Posted June 6, 2019 5 hours ago, webfact said: This year’s export growth has been reduced to 1% from 3% earlier forecast. 2019-04-23 The Finance Ministry was worried that economic growth would weaken to 3% in the first and second quarters. http://www.nationmultimedia.com/detail/breakingnews/30368159 Changing a forecast every month is not a forecast. But expect more economic stimulus from Prayut who has been essentially spending Thailand's future for today's quick gratifications. Link to comment Share on other sites More sharing options...
trainman34014 Posted June 6, 2019 Share Posted June 6, 2019 Must be Fake News as we were told only three weeks ago by the Brainless of Bangkok that the Trade War would in no way affect Thailand ! Link to comment Share on other sites More sharing options...
connda Posted June 6, 2019 Share Posted June 6, 2019 How about considering: Thai Export Drop Due to Strong Thai Baht Link to comment Share on other sites More sharing options...
connda Posted June 6, 2019 Share Posted June 6, 2019 4 hours ago, trainman34014 said: Must be Fake News as we were told only three weeks ago by the Brainless of Bangkok that the Trade War would in no way affect Thailand ! Scapegoating at it's best. Link to comment Share on other sites More sharing options...
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