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Thai exports in November grow 10%

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Thai exports in November grow 10%

 

BANGKOK, 29 December 2016 (NNT) - The Thai National Shippers’ Council (TNSC) revealed that Thai exports in November increased 10%, prompting the agency to revise its 2016 export growth forecast up to 0% from -0.5%. 

TNSC President Nopporn Thepsitha pointed out that the November figure was the highest compared to eight months earlier. He attributed the increase to rising gold and oil prices as well as growing commodity demand in China and America. 

He added the average export figure for the year 2016 would likely be 0%, moving up 0.5% from the previous forecast. Demand for Thai goods continues to grow as the country offers a variety of products that can be bought in larger volumes on a weak Thai baht. 

Nopporn further stated that Thailand’s trading partners are confident in the stability of Thai politics. However, he said despite several export advantages, prices of Thai products are vulnerable amid the fluctuation of global commodity prices. 

The TNSC President believed that Thailand will benefit from U.S. President-elect Donald Trump’s economic policy and rising global oil prices next year. The export figure for 2017 could expand by 1%.

 
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-- nnt 2016-12-29

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This is only a repeat of the brag story from a few days ago. In the earlier story they claimed that much of the increase in value was due to the increase in the export of gold. To quote from that news release.

 

"This has also been helped in no small measure by the rise in the the country's gold exports which has grown by a staggering 72% Ms Pimchanok Wonkoporn added" 

 

I wonder what will happen in the future to the "staggering" 72% growth in gold exports now the PM has shut down all the gold mines in the country. What brilliant economic masterminds the military types are.

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Is this not the THIRD day in a row we have had this post ?

Not much other good news to report then

Talk about banging a lonely drum.

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Was one of the items that caused the increase Phra Dhammachayo ?

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5 hours ago, webfact said:

rising global oil prices next year

According to -

  • UTCC in January 2016 falling domestic oil prices was one of the positive factors contributing to the increase in consumer confidence.
  • Minister of Commerce in March 2016 falling oil prices caused a drop in the inflation rate.
  • TDRI in March 2016 predicted improved economic growth attributed low oil prices.
  • NESDB in May 2016 expected the Thai economy to expand in part from cheaper oil prices

But now rising oil prices are good for Thailand?

Nuetral at best and detrimental to the economy at worse.

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The previous government admitted they lied.  Why not do it again now?

 

http://www.thaivisa.com/forum/topic/579327-interview-with-thai-finance-minister-kittiratt-white-lies-sometimes-needed/

 

Quote

 

Finance Minister Kittiratt Na-Ranong admitted yesterday that sometimes he had to exaggerate about the country's economic growth, even though the government has been fully aware since early this year that the global economic slowdown would likely swamp Thailand.

 

"But [the government] must aim high in order to create confidence," Kittiratt, who is also a deputy prime minister, said.

 

"The finance minister needs to lie sometimes to create good feelings. The world knows this as a 'white lie'. The goal is to create confidence, which in turn benefits the country's economy as a whole," he said.

 

 

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