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Exports Increase for 2 Months Running


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Exports Increase for 2 Months Running

Subhabhong Rarueysong

 

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BANGKOK (NNT) - Thailand’s export sector has been in positive territory for two months running, due to global trade recovery, as the economy of many countries has recovered, especially in Asia.

 

Trade Policy and Strategy Office (TPSO) Director-General Phusit Ratanakul Sereroengrit said Thailand’s exports in January were valued at US$19.70 billion, up 0.35%, while import was $19.90 billion, down 5.24%. The country has a trade deficit of $202 million.

 

He said export of products related to agriculture, working from home and Covid-19 have all expanded. However, he warned that Thailand’s export sector will face pressure if there is a new round of Covid-19 infections.

 

He added that the Commerce Ministry expects the country’s exports this year to expand by 4%.

 

 

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8 minutes ago, webfact said:

He said export of products related to agriculture, working from home and Covid-19 have all expanded.

Does that mean that without covid related goods they would be negative ? I'm not so sure that's a good thing.

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One of Thailand's biggest exports in the last year has been gold. But Thailand doesn't have any gold mines? Nope, it's because of hard-up Thais selling their gold:

 

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Gold sales in Thailand are surging as households reach for a financial lifeline amid the pandemic, a tactic that risks complicating government efforts to tame an export-stifling rally in the nation’s currency.

 

As a result, gold exports jumped to 237.4 metric tons during January-October, compared with 170 tons for all of 2019, official data show. Net exports of 135 tons during the first 10 months of this year are the highest since at least 2010, according to Ministry of Commerce figures.

 

 

https://www.bloomberg.com/news/articles/2020-12-28/thais-dipping-into-gold-savings-undermine-steps-to-rein-in-baht

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