Connect with us

Economics

Thai exports rebound 3.9% in August

The value of Thailand’s exports in August rose to US$20.467 billion year on year to 3.92 per cent, a senior Commerce Ministry official said today.

Published

on

The value of Thailand’s exports in August rose to US$20.467 billion year on year to 3.92 per cent, a senior Commerce Ministry official said today. 

Srirat Rastapana, International Trade Promotion Department director general, said the export surge was due to to the strengthened global economy and major export sectors included electronics products, automobiles and parts, textiles and jewellery.

Exports to the US increased by 3.6 per cent, Japan 6 per cent, and European Union 13.4 per cent. Total export value in the first eight months was $152.836 billion, or 1.03 per cent higher.

Imports in August declined 2.1 per cent to US$20.562 billion, said Ms Srirat, adding that imports of raw materials fell by 4.9 per cent and capital goods by 7.3 per cent. Total imports in the first eight months of the year increased 3.1 per cent to $170.983 billion, resulting in a trade deficit of $94.7 million in August and $18.147 billion in January-August. It is estimated that the country’s exports this year should scale up 4 per cent, which is lower than the forecast 7-7.5 per cent.

Ms Srirat said Thailand must improve its competitive edge in the electronics sector which has declined due to overseas companies’ relocation of their production bases from Thailand given the problems of natural disasters and adequate labour force. The Industry Ministry, Board of Investment and related agencies must find measures to promote new industries with less dependence on the labour force, she said. With cooperation from all state agencies, Thailand’s monthly export volume should exceed US$20 billion while next year’s export growth should not be less than 5-7 per cent, she said. MCOT online news

via Thai exports expand 3.9% in August | MCOT.net | MCOT.net.

Click to comment

Leave a Reply

Economics

Thailand relaxes COVID-19 measures to help revive economy

During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.

Published

on

Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.

(more…)
Continue Reading

Economics

Southeast Asia to relinquish its lead over Latin America says Moody’s

While the emerging economies of Southeast Asia have outperformed their counterparts in Latin America for most of the past two decades, their lead will slide in the next few quarters as Southeast Asian governments clamp down to fight the pandemic’s lingering second and third waves.

Published

on

The Delta surge is casting larger clouds over the global recovery and emerging markets are in the thick of it. Despite the ebbing of the coronavirus variant in India, where it first emerged, its spread in Southeast Asia, Africa, and the Middle East has steepened the road to recovery in these regions.

(more…)
Continue Reading