Connect with us

Economics

Thai exports jumped 10.2% in November, the biggest improvement in 9 months.

Thai Exports for November rose over 10% with value jumping in excess of US$18.9 billion, the Trade Policy and Strategy Office says.

Published

on

Thai Exports for November rose over 10% with value jumping in excess of US$18.9 billion, the Trade Policy and Strategy Office says.

Ms Pimchanok Wonkoporn, deputy director of the Trade Policy and Strategy Office with the Ministry of Commerce, said export statistics for November 2016 was in excess of US$18.9 billion, representing a 10.19% growth compared to the same period the previous year.

Exports figures taken from the same period last year showed a contraction of 4%, thus making the latest export figures the highest degree of growth in a 9 month period she said.

Estimates for the coming year on the other hand shows great promising as export growth of between 2.5 – 3% can be expected due to the continued recovery of the global economy, she added.

Analysis.png

keypoint.jpg

  • The value of exports expanded by 10.2%YOY in November, growing in almost every market.
  • Oil price recovery prompted exports of oil-related products to grow for the first time in over 25 months.
  • Leading by imports of fuels following oil price recovery, the value of imports also rose for the third consecutive month by 3.0%YOY.
Implication.png

886_20100622103105.gif

  • EIC believes that Thai exports is still affected by slow recovery of global economies and subdued oil prices, but thanks to gold exports, overall drop in export value has been minimized.
  • Although exports of major manufacturing sectors, such as electronics and electrical appliances, posted positive growth in November, but given the fragile recovery of Thailand’s major trading partners, EIC believes that the recovery of such exports will not be sustained going forward.
  • EIC assesses that Thailand’s export value will contract by 0.5%YOY in 2016, but expand by 1.5%YOY in 2017. In the final month of 2016 and throughout 2017, exports of major manufacturing products will still be weighed down by subdued global trade and various global risk factors.
  • However, the oil price rebound will support positive growth in both prices and values of oil-related commodities exports. Moreover, the improvement in income and purchasing power among countries that rely on oil exports will help spur demand for Thai products, especially automobile and parts.
  • EIC expects import value to decline by 6.3%YOY in 2016, and then grow by 4.5%YOY in 2017, as imports of fuels rise with oil price and demand for consumer products improves on the back of stronger household consumption. Nevertheless, imports of capital goods will remain subdue, as investment by major manufacturing sectors is expected to stall throughout 2017

 

Author: Pimnipa Booasang
Source link

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

Published

on

Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

(more…)
Continue Reading

Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

Published

on

BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,160 other subscribers

Wise

Recent