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Thai exports drop 4.9% in March

Thailand’s exports were down 4.9% in March, leading to a 1.6-per-cent contraction in exports in the first quarter

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Thailand’s exports in March were down 4.88 per cent year on year (YoY), leading to a 1.6-per-cent contraction in exports in the first quarter of this year compared to the same period last year.

The Commerce Ministry reported on Monday Thailand’s customs-cleared exports fell to US$21.4 billion after a 5.9% rise in February to $21.6 billion.

Slowdown in global trade and economies

Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office, said March’s contraction was largely because of a slowdown in global trade and economies.

Shipments of manufacturing products shrank 6 per cent, led by electronics items, computers and its components and hard disk drives, while shipments of automobiles and auto parts, motorcycle and parts and rubber products continued to expand.

Nissan exports at Laem Chabang port (near Pattaya)
Shipments of automobiles and auto parts continued to expand.

Exports of agricultural and agro-industrial products, meanwhile, rebounded from the previous month’s contraction and registered growth of 3.2% from the same period last year, led by fresh, frozen and processed fruits and vegetables (+30.0%), fresh, frozen and processed chicken (+14.2%), rubber (+6.5%) and canned tuna (+6.4%). However, some products declined such as sugar (-23.0%), rice (-7.7%) and cassava products (-9.4%).

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Economics

1.7 million Thais without smartphones register for "Rao Chana" benefits

The Rao Chana scheme has seen a large number of Thais who don’t have smartphones visiting the branches of Krung Thai Bank (KTB) and its mobile units around the country to register in person for the government’s 7,000-baht benefit.

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BANGKOK (NNT) – The Rao Chana scheme has seen a large number of Thais who don’t have smartphones visiting the branches of Krung Thai Bank (KTB) and its mobile units around the country to register in person for the government’s 7,000-baht benefit.

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Economics

BoI allows private sector in border logistics center

National News Bureau of Thailand

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NAKHON PHANOM (NNT) – The Thailand Board of Investment (BoI) has agreed to allow the private sector getting involved in the construction of a border logistics and transport center in Nakhon Phanom province.

Transport Minister Saksayam Chidchob said the BoI approved in principle providing incentives to the private sector concerning this center.

The incentives will be offered in relation to an inland container depot project, a distribution center project and a project to construct buildings for industrial plants and warehouses.

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Economics

Thailand Post joins Prompt Song app to buy supplies at market for restaurants

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand Post Distribution Co., Ltd. has joined with the Prompt Song application to buy supplies at a market for restaurants via the online system, which is another option for vendors during the COVID-19 situation.

Mr. Pheera Udomkitsakul, Managing Director of Thailand Post Distribution Co., Ltd, said that the delivery service through online ordering is another service operated by Thailand Post via the e-Marketplace Platform in the form of the Prompt Song application.

Thailand Post will pick up products from the manufacturer or distributor and store them at a temperature controlled warehouse. The area is divided by a modern system. The vehicle tracking system is managed using a bar code to ensure that the products are delivered to the service’s users on time. The delivery times ate 3-8 a.m. The service is being piloted in Bangkok and its vicinity.

This will solve a problem for restaurant operators who can’t buy ingredients for cooking or market closures due to the COVID-19 situation as the application allows the vendors to wait in front of the restaurant.

Mr. Pheera said that a good and comprehensive logistics system will play a very important role in helping operators reduce problems and costs, systematization and distribution and reduce the risk of product defects. It saves time in product distribution, resulting in smooth and efficient trading.

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