Connect with us
CGIF-10th-Year-Anniversary

Economics

Thai exports undermined by rising baht

The baht was trading yesterday at a 13-year high of 30.82/85 to the US dollar, compared with 33.15 baht in January. The 7.6% increase is the highest in the region behind the Malaysian ringgit.

Avatar

Published

on

thai baht

The continued appreciation of the Thai baht is taking its toll on some Thai exports, the chairman of the Federation of Thai Industries (FTI) said Friday, urging the Bank of Thailand to respond with measures to cushion the impact.

Citing a survey of 39 industrial groups affected by the baht strengthening, Phayungsak Chartsutipol said the industries hardest hit by the stronger baht accounts for 30 per cent of those surveyed, including the clothing, textiles, ceramics, agricultural and processed products industries.

thai baht

The baht was trading yesterday at a 13-year high of 30.82/85 to the US dollar, The 7.6% increase since January is the highest in the region behind the Malaysian ringgit.

Among those heavily-affected industries — 41 per cent of those surveyed — are sawmills, wood drying factories, air-conditioning parts, instant foods, auto parts for export, and medicines.

via Thai exports feel pinch of rising baht; FTI calls for action.

The baht was trading yesterday at a 13-year high of 30.82/85 to the US dollar, compared with 33.15 baht in January. The 7.6% increase is the highest in the region behind the Malaysian ringgit.

The FTI has proposed six remedies for the export sector, starting with an explicit acknowledgement by the government that rises in export goods prices are reducing exporters’ competitiveness against their rivals.

It said the central bank needed to intervene more in the currency market to stabilise the exchange rate so the gains are more in line with those of other regional currencies.

As well, the FTI said, both the government and the central bank should take immediate measures to prevent speculators from pursuing short-term profits.

It is also asking the Port Authority of Thailand to lower service fees for exporters for three months. Customs duties for exports should also be reduced.

Comments

Economics

96% of Foreign Investors still confident in Thailand says BOI

The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

(more…)
Continue Reading

Economics

Thailand Tops Bloomberg’s Emerging Markets List

Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020.

Boris Sullivan

Published

on

Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17 developing markets gauging their outlook for 2021.

(more…)
Continue Reading

Economics

COVID-19 pandemic wiped out 81 million jobs in Asia-Pacific countries

Some 81 million jobs lost as COVID-19 creates turmoil in Asia-Pacific labour markets, according to ILO report.

Boris Sullivan

Published

on

Drops in working hours due to the Covid-19 crisis have had a devastating effect on jobs and incomes in Asia and the Pacific according to a new report by the International Labour Organization (ILO).

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

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

Join 13,413 other subscribers

Trending