Connect with us

Trade

Thailand’s December exports rise 18.8%

Exports of goods and services for December 2010 were up 18.8 per cent on the same month last year to stand at 516 billion baht (US$17.37 billion), Commerce Minister Porntiva Nakasai said.

Avatar

Published

on

Exports of goods and services for December 2010 were up 18.8 per cent on the same month last year to stand at 516 billion baht (US$17.37 billion), Commerce Minister Porntiva Nakasai said.


December exports rise 18.8%

Thailand’s government has increased this year’s budget by 6 percent so it can spend more to buoy the economy, which Abhisit yesterday said should rebound in the second half.

Commerce Minister Pornthiva Nakasai on Tuesday revealed Thailand’s exports in December 2010 totaled US$17.37 billion in value, up 18.8 per cent from the same month the year before, bringing the exports for the whole year up by 28.1 per cent to $195.31 billion.

She attributed the sound export growth to an increase in shipments of almost all kinds of agricultural and industrial products thanks to the improvement of economies in the United States and Asia.

She said imports in December totaled $16.08 billion, up 11.5 per cent, raising imports for the whole year by 36.5 per cent to $182.41 billion.

The imports rose in almost all categories of products, particularly raw materials, capital goods, consumer products, and fuel.

It resulted in the country enjoying a trade surplus of $1.29 billion in December and $12.91 billion for the entire year of 2010.

Mrs Pornthiva said the ministry expected that exports for this year would grow by 10 per cent despite risk factors from the global economic slowdown, the stronger baht, the capital movement, and higher fuel prices.

With the increased demand for Thai products in the world market, successful efforts to penetrate new markets and maintain existing ones, and public and private cooperation to boost exports of all categories of products, the ministry believed that export growth for 2011 would be reached as targeted.
However, measures for the medium term that will enable Thailand to poise itself for higher and sustainable growth as the global economy recovers in the next few years are no less important. While coping and mitigating with the impact of the financial crisis in the short-run, it is equally important for all stake holders in Thailand to prepare for a recovery in global demand and ensure sustainable growth thereafter. The global economy is projected to recover over the next few years and, thereafter competition will intensify.

So far, two tranches of the TKK Program (2009-2012) worth Bt350 billion (US$10.5 billion) have been released, with the first tranche in the amount of Bt200 billion and the second tranche of Bt150 billion.

The focus of the TKK Program so far has been on quick disbursing investment projects as well as transfers and subsidies to local governments, communities, and farmers. A large share of the package is allocated to the agriculture and education sectors and community spending. Around two-thirds of the Bt350 billion or Bt230 billion is to be used for construction and equipment purchase, of which around three-quarters or Bt175 billion (1.9 percent of GDP) is expected to be disbursed in 2010, thus contributing to public investment.

Here is the original news:
December exports rise 18.8%

Comments

China

RCEP and China: Reimagining the future of trade in Asia

The Regional Comprehensive Economic Partnership (RCEP) could eventually usher in an era of much deeper regional integration: for corporates doing business in the region, their future success may well hinge on how adeptly they manage to navigate the evolution of Asia’s trade landscape under the RCEP.

Avatar

Published

on

Last month, 15 countries in the Asia-Pacific region – including the 10 member states of the Association of Southeast Asian Nations (ASEAN) as well as China, Australia, Japan, New Zealand, and South Korea – signed the landmark Regional Comprehensive Economic Partnership (RCEP) on the final day of the 37th ASEAN Summit.

(more…)
Continue Reading

Trade

Will RCEP help drive South-east Asia’s Covid-19 recovery?

The Regional Comprehensive Economic Partnership (RCEP) was finally signed on Sunday November 15, on the sidelines of the annual summit of the Association of South-East Asian Nations (ASEAN).

Oxford Business Group

Published

on

Marking a significant regional milestone, it is hoped that the RCEP will help its 15 signatories recover from the economic fallout of the coronavirus pandemic.

(more…)
Continue Reading

China

Thailand ready to ink big Chinese-backed trade deal

The RCEP will cover all 10 Asean member states plus five partners: China, Australia, Japan, New Zealand, and South Korea and will take effect from the middle of 2021 if at least six Asean members and three partners agree to its terms.

Olivier Languepin

Published

on

Thailand is set to sign the world’s biggest free trade agreement with Japan, China, South Korea and 12 other Asia-Pacific countries at the 37th Asean Summit this week.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

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

Join 13,609 other subscribers

Trending