Thailand’s export sector shows signs of revival as countries slowly open up

[webfact]

Thailand’s export sector shows signs of revival as countries slowly open up

By The Nation

 

 

Thailand’s export sector is expected to show signs of recovery for three consecutive months as export in September contracted 3.86 per cent compared to a 9.08 per cent contraction in the same period last year, the Trade Policy and Strategy Office said.

 

Relate story: September exports better than predicted as Thai recovery accelerates

 

Export in September stood at US$19.62 billion, down 3.86 per cent from $17.39 billion last year, resulting in a $2.23-billion trade surplus.

 

Meanwhile, export in the first nine months of this year was $172.99 billion, down 7.33 per cent year on year, while import was valued at $152.37 billion, down 14.64 per cent year on year, resulting in a $20.62-billion trade surplus.

 

The export sector began showing recovery in September in line with economic upturn in other countries in response to the easing of lockdown measures and travel restrictions.

 

Export rose in three areas:

 

• Food, such as tapioca, palm oil, frozen pork, beverages, seasoning and pet food.

 

• Electrical appliances, such as computers and its components, motorised furniture and parts, refrigerators, freezers, washing machines and solar panels.

 

• Medical products such as rubber gloves and pharmaceuticals, the export of which had been rising since the arrival of Covid-19.

Between January and September this year, the export value of agricultural products stood at $29.46 billion, down 3.8 per cent year on year. Of this, $5.22 billion was accounted for by frozen, canned and processed vegetables and fruit, marking a rise of 8.2 per cent, rice exports dropped 15.3 per cent at $2.70 billion, rubber was down 26.5 per cent at $2.36 billion, tapioca dropped 1.9 per cent at $2 billion, while export of canned tuna dropped 9.1 per cent at $1.75 billion.

 

The export value of industrial products stood at $138.49 billion, down 7.3 per cent year on year. Of this, export of electrical appliances dropped 7 per cent to $17.05 billion, gems and jewellery rose 23.7 per cent to $16.13 billion, gold exports rose 88.8 per cent to $12.77 billion, up 88.8 per cent, while automobiles and auto components dropped 29.2 per cent to $14.73 billion, computers and components dropped 1.8 per cent to $13.64 billion, and plastic beads and products dropped 13.8 per cent to $8.74 billion.

 

Thailand’s exports to the US, China, Australia, Vietnam, Malaysia and South Korea has risen, while exports to Japan, India and the UK have dropped.

 

Source: https://www.nationthailand.com/news/30396672

 

-- © Copyright The Nation Thailand 2020-10-23

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[Grumpy John]

Hard to believe but if the figures are true it's been a lucky time for Thai industry.  Of course domestic consumption figures need to be looked at at the same time.  My guess is the domestic figures have taken a big hit!  So how far is industry behind overall?

[John Drake]

1 hour ago, webfact said:

Thailand’s exports to the US, China, Australia, Vietnam, Malaysia and South Korea has risen

 

If American people are not good enough to enter Thailand, then Thai products should not be allowed into the US. 

[Artisi]

2 hours ago, John Drake said:

 

If American people are not good enough to enter Thailand, then Thai products should not be allowed into the US. 

What has that comment have to do with the trade between countries?

[Grumpy John]

9 hours ago, Artisi said:

What has that comment have to do with the trade between countries?

Nothing, but it's a good way to punish Thailand for being unreasonable.

[Cake Monster]

18 hours ago, webfact said:

• Electrical appliances, such as computers and its components, motorised furniture and parts, refrigerators, freezers, washing machines and solar panels.

I can fully see where Electrical Goods such as Computers Etc will come into the equation, but Motorised Furniture ?

Maybe they have been ordered for the January Sales along with all the other White Goods. And after the Sales back to small orders for the Exporters

 

 

[John Drake]

13 hours ago, Artisi said:

What has that comment have to do with the trade between countries?

 

If you haven't noticed (and clearly you haven't) China uses trade as a weapon to get what they want from other countries. That includes insults directed towards their citizens. Where ever a Chinese is, so is China. As a result, whenever Thai immigration does so much as slap a Chinese tourist for being unruly at the airport, the entire Thai political establishment gets down on their knees and begs for forgiveness. Meanwhile, Western foreign nationals are treated with disrespect bordering on abuse at times. Why shouldn't our countries use the same hammer to protect their citizens?

Edited October 24, 2020 by John Drake

[ExpatOilWorker]

18 hours ago, webfact said:

Export in September stood at US$19.62 billion, down 3.86 per cent from $17.39 billion last year, resulting in a $2.23-billion trade surplus.

 

Arai???

Proofreader asleep again?

September 2019 export was $20.5 billion. The $17.39 billion mentioned above is September 2020 import.

[RichardColeman]

20 hours ago, webfact said:

Meanwhile, export in the first nine months of this year was $172.99 billion, down 7.33 per cent year on year

added to the at least -8% drop in tourism income and the clowns are still predicting only a -7.1% for the year - only growth industry I can see currently in Thailand seems to be creative accountancy !

[Isaan sailor]

With an uncompetitive currency—don’t expect miracles.

[peter zwart]

Brilliant. And all the economies in the world are in a heavy downturn. Then who is pumping up the numbers of exports.