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September 2019 export 1.39% in red


webfact

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September 2019 export 1.39% in red

 

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BANGKOK (NNT) - Thailand’s export sector performance in September 2019 is recorded at a negative 1.39 percent due to global economic slowdown and Brexit.

 

The Trade Policy and Strategy Office Director General Pimchanok Vonkorpon has reported Thailand’s export sector performance in September 2019, saying that the sector generated 20.48 million US dollars in revenue, which is lower than expected, requiring the figure in the remaining months this year to be higher than 21 million USD to prevent annual growth to be in negative territory this year.

 

Despite the figure, export markets have improved for key industries such as motor vehicles and parts, electrical circuits, and air conditioners previously affected by the trade war but now showing growth, as a result of better adjustment by business operators, while products such as radios, televisions, and motorcycles and parts including big bikes, have been star players in the market with notable performances. Farm products such as fresh fruit and vegetables, and frozen or canned foods have also grown well in terms of quantity and revenue.

 

The figure for exports to key markets continues to show growth, especially the 7.8 percent growth for exports to the U.S., and 6.1 percent growth for exports to China. The gross export value in the first nine months of this year is now recorded at 186.57 billion US dollars, a negative 2.11 percent growth. The office now expects overall export growth this year to be a negative 1 percent, as a result of persistent global economic risks such as the trade war, Brexit, and the strong Thai baht, however Thai exporters are believed to remain strong and able to adjust to the challenges.

 

The Thai government is going ahead with new Free Trade Area (FTA) negotiations with more countries, to improve competitiveness. It is expected the export sector next year will swing back to a 1-2 percent growth.

 

The figure for imports into Thailand in September 2019 is recorded at 19.2 million US dollars, a 4.24 percent decrease. Thailand continues to maintain a trade surplus of 1.275 billion USD. The overall figure in the first nine months for goods imports is 179.19 billion USD, with 7.38 billion USD trade surplus.

 

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Some interesting reporting here 

11 minutes ago, webfact said:

Despite the figure, export markets have improved for key industries such as ......

then.

12 minutes ago, webfact said:

The figure for exports to key markets continues to show growth, especially the 7.8 percent growth for exports to the U.S., and 6.1 percent growth for exports to China.

but

13 minutes ago, webfact said:

The gross export value in the first nine months of this year is now recorded at 186.57 billion US dollars, a negative 2.11 percent growth. The office now expects overall export growth this year to be a negative 1 percent, as a result of persistent global economic risks such as the trade war, Brexit, and the strong Thai baht, however Thai exporters are believed to remain strong and able to adjust to the challenges.

I can understand most of the excuses for poor performance in exports especially the THB rate, but what has Brexit got to do with this? Apart from it being fashionable to blame Brexit for everything, how did it get a jersey in this set of blame games? If anything it should be opening some doors for the Thai exporters.

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Not to worry the Baht will magically keep on rising. Yep people just can't help themselves blaming Brexit for the woes of the world. I personally pray every night for a 100% break from Germany and Frances control. Why oh why do so many from other countries think it is so wrong to be a sovereign country. Britain is far better alone so mind your own business and worry about your own country. 

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4 hours ago, webfact said:

Thailand’s export sector performance in September 2019 is recorded at a negative 1.39 percent due to global economic slowdown and Brexit.

But of course that is the perfect thing to blame all on. The buyers only care about Brexit and economic slowdown. They do not at all think thta the baht is to strong and it´s at the moment cheaper to order from other countries.

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