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Thai exports show growth in July

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Thai exports show growth in July

By The Nation

 

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Thai exports in July 2019 bounced back up to 4.28 percent with a total value of US$21.2 billion (Bt652.3 billion), largely from gold exports as a safe-haven asset, according to the Commerce Ministry.

 

While global oil prices dampened exports of oil-related products, practical proactive export strategies are likely to balance negative impacts from the US-China trade dispute. In the first seven months of 2019, Thai exports contracted 1.9 percent.

 

Diversity of exports including agricultural and food products, lifestyle products related to tourism and rising industrial products appear likely to help Thai exports for the rest of 2019. Together with government stimulus packages in many countries, new export promotion schemes endorsed by a Joint Public and Private Consultative Committee on Commerce, would gradually boostThai exports in the fourth quarter of 2019.

 

Thai exports to most major trading partners markets, for example, US Japan Hong Kong, Taiwan, and China, include fresh, frozen, and processed fruits as well as automobiles. Exports to India remain robust but those to CLMV (Cambodia, Laos, Myanmar, and Vietnam) and ASEAN contracted because of oil and oil-related products.

 

Growth of agricultural and agro-industrial products returned to positive growth and stood at 1.4 per cent,” the ministry said. Top performers that still expanded favourably were fresh, frozen, and processed fruits (+26.1 per cent), rubber (+9.6 per cent), cassava products (+8.7 per cent), and fresh, frozen, and processed shrimps (+7.3 per cent).

 

Meanwhile, exports of some major products declined, for example, rice (-27.2 per cent), sugar (-25.4 per cent), and canned tuna (-13.6 per cent). In the first seven months of 2019, agricultural and agro-industrial products contracted 1.7 percent.

 

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In contrast, industrial products remained positive for a second consecutive month. Top performers are gold (+406.9%), cosmetics, soaps, and skincare products (+17.0 per cent), and air-conditioners (+4.2 per cent). However, some industrial products decreased, for example, oil-related products (-14.2 per cent), computer and parts (-5.9%), automobiles and parts (-2.9 per cent). In the first seven months of 2019, industrial products contracted 1.4 percent.

 

Despite a variety of challenging factors in common with other export-oriented countries, many positive factors are likely to strengthen and improve Thai exports namely new rising -star products, the opportunity to substitute products subject to retaliatory measures in US and China markets, expansion of tourism related products, potential exports to new areas according to customized strategies, and new export promotion schemes underway endorsed by a Joint Public and Private Consultative Committee on Commerce. Last but not least, expansionary monetary policy would also diminish the baht-appreciation effect in the fourth quarter of the year 2019.

 

Source: https://www.nationthailand.com/business/30375118

 

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-- © Copyright The Nation Thailand 2019-08-21

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7 minutes ago, Fex Bluse said:

Potential misinformation to save face. 

 

Tomorrow, 3 other ministries will claim exports shrunk. 

 

Can't trust anything from these people. 

What figures do you come up with?

  • Confused 1

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1 hour ago, madmen said:

 

What figures do you come up with?

Yes

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Can someone enlighten me on the top 2 items?

 

Gold and jewelry - are there any significant mines in Thailand?

 

Fruit? Is there new crazy demand on fruit from a country that uses all the chemicals under the sun in unprecedented amount?

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So every cloud (sky high Baht) has a silver lining (gold and fruit exports)?  Let’s see how robust tourism goes...

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The Only reason for this upturn is they included Gold exports. Seriously, they think people can't see through that smoke screen? Excluding that from the equation and once again exports have taken another hit due to the Bank Of Thailand ignoring all the warning signs, the pleas from numerous areas of Thai business to reign in the Baht. But Oh No that would put a damper on the Mega rich who control every aspect of the economy and use the Baht as their personal investment strategy

Sent from my CMR-AL19 using Thailand Forum - Thaivisa mobile app

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Come on, Bank of Thailand—your chance to help your economy is now.  Lay off the ChiCom hot money inflows from bond sales. Then watch exports fly...

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5 hours ago, madmen said:
On 8/21/2019 at 4:44 PM, Fex Bluse said:
Yes

Yes what ?

Yes, sir? Madame? Not sure.

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20 hours ago, idman said:

The Only reason for this upturn is they included Gold exports. Seriously, they think people can't see through that smoke screen? Excluding that from the equation and once again exports have taken another hit due to the Bank Of Thailand ignoring all the warning signs, the pleas from numerous areas of Thai business to reign in the Baht. But Oh No that would put a damper on the Mega rich who control every aspect of the economy and use the Baht as their personal investment strategy

Sent from my CMR-AL19 using Thailand Forum - Thaivisa mobile app
 

Exactly, Thailand is an unchecked Banana Republic, run mostly for the ruling Sino-Thai elites. Wish I was one of them. Fun.

 

"In economics, a banana republic is a country with an economy of state capitalism, by which economic model the country is operated as a private commercial enterprise for the exclusive profit of the ruling class."

 

https://en.wikipedia.org/wiki/Banana_republic

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Meanwhile, exports of some major products declined, for example, rice (-27.2 per cent), sugar (-25.4 per cent), and canned tuna (-13.6 per cent). In the first seven months of 2019, agricultural and agro-industrial products contracted 1.7 percent.

 

At least the rich will still be able to tuck into nugget and chips at lunchtime 🤔

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Wasn't it clearly stated in their previous statements that all exports except gold was down since gold is at a fixed price? Now they just added the gold to the calculation and claim exports are improving again? Or am i missing something? 

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