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Thai Export grows 9.9% in 2017

The Ministry of Commerce revealed figures of export growth for last year at 9.9%, the highest in the past six years.

Aishwarya Gupta

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The Ministry of Commerce revealed figures of export growth for last year at 9.9%, the highest in the past six years.

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Pimchanok Vonkorpon, director of the Commerce Ministry’s General Trade Policy and Strategy Office, said Thai exports continue to grow steadily for the past 10 months last year with export in December growing 8.6% worth US$19,741 million, while imports also increasing 16.6% worth US$20,019 million, a trade deficit of US$278 million.

Exports for the full year in 2017 showed the highest growth in six years at 9.9% amounted to US$ 236,694 million, a trade surplus of US$ 13,930 million, she said.

The high growth was attributed to economic recovery of Thailand’s major trading countries, and satisfactory growth in Thai farming and agro-industrial products, she said.

Growth of Thai exports in 2018 may be slower than in 2017. This is in line with growth outlook of Asian exports (excluding Japan) in 2018 which is expected to expand by 5.1%, a slower rate than 7.1% of 2017, according to survey of Asia Pacific Consensus as of December 2017

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Economics

New Business Registration Tops Highest since January 2019

The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport and logistics (192).

National News Bureau of Thailand

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BANGKOK (NNT) – New business registration topped 7,283 in January, the highest since January 2019, driven by the promise of Covid-19 inoculations and upbeat sentiment on the country’s economic outlook.

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Economics

EEC Expects 300-billion-baht Investment This Year

National News Bureau of Thailand

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BANGKOK (NNT) – The Eastern Economic Corridor (EEC) has expected investment to triple to 300 billion baht this year as investment projects previously held by the coronavirus outbreak get pushed forward again.

EEC Secretary -General Kanit Sangsubhan said actual investment in the EEC could be up from 96 billion baht in 2020, or 46% of total project applications as investors did not invest last year, and they would have to do it this year.

He said there will be a bunch of projects held up from previous years.

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Economics

Commerce Ministry sets Thailand’s export growth target at 4% for 2021

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand has seen export growth of 0.35 percent in the first month of the year. The Commerce Minister has ordered the Department of International Trade Promotion to advance an action plan to accelerate growth, which is set at 4 percent this year.

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