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Thailand to produce 2.2 million cars in 2012

Thailand is expected to manufacture 2.2 million automobiles and pickup trucks and 2.5 million motorcycles this year. Automotive Industry Club spokesman Surapong Paisitpatanapong said a celebration of producing 2 million cars/year will be held November 30.

Aishwarya Gupta

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Thailand is expected to manufacture 2.2 million automobiles and pickup trucks and 2.5 million motorcycles this year. Automotive Industry Club spokesman Surapong Paisitpatanapong said a celebration of producing 2 million cars/year will be held November 30.

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He said the club is confident the auto industry will continue to grow. If expansion continues according to plan for the next five years, Thailand will have a production capacity of 3 million units/year and the country will become one of the world’s top ten car manufacturers.

In August, automobile sales volume reached almost 130,000 units, or about 63 per cent increase year-on-year. However, the figure was 16 per cent less than that of July.

Mr Surapong said the higher sales volume was because car producers increased their production output for domestic sales more than for export in order to hand over new cars to buyers under the government’s ‘first car’ scheme.

The total car manufacturing figure in August stood at about 210,000 units, a number which has been continuous for the fourth consecutive month. Production capacity last month increased around 37 per cent year-on-year, but lowered from July this year at about one per cent.

via Thailand to produce 2 million cars by year-end.

Trade

Thailand to increase rice exports to 6 million tons this year

National News Bureau of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

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Singapore

UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.

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UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.

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Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

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Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

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