Jump to content
BANGKOK
webfact

Commerce Ministry: Export drops due to trade war

Recommended Posts

Commerce Ministry: Export drops due to trade war

 

38acbc3fa35bc9bc5f3ce7e473c0e0be.jpg

   

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.

 

 

nnt_logo.jpg

-- © Copyright nnt 2019-06-06

Share this post


Link to post
Share on other sites
Posted (edited)
2 hours ago, webfact said:

Export drops due to trade war

Maybe. Or maybe "trade war" is just a good excuse for the drop.

Edited by blackcab
Oversized font removed

Share this post


Link to post
Share on other sites
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. 

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

How about considering: Thai Export Drop Due to Strong Thai Baht

  • Like 1

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...