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Thai exports post eighth straight month gain in October

Exports rose for an eighth straight month in October, bringing the total for the first 10 months to a slightly higher level than expected

Bahar Karaman

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Exports rose for an eighth straight month in October, raising hopes that full-year growth could approach 10%, says the Commerce Ministry.

Exports totalled US$20.1 billion (657.97 billion baht) in October, up 13.1% year-on-year, while the 10-month figure reached $195.5 billion, up 9.7% year-on-year, said Pimchanok Vonkorpon, director-general of the ministry’s Trade Policy and Strategy Office.

“Exports were higher in every sector because of strong overseas demand as the economies of Thailand’s major trade partners recovered,” she said.

Shipments to China rose 17%, growing at a double-digit rate for a 12th straight month based on strong demand for rubber, plastic and chemical products.

Thailand’s export value already expanded 12.2%YOY in September, posing strong growth in almost all product categories and key markets. Gold exports, in particular, grew 243%YOY, with the export growth rate at 7.9%YOY without gold.

Thailand’s export value could reach an all-time high of US$232.6 billion in 2017 if the monthly value is at least $19 billion in the fourth quarter of this year, according to the International Trade Promotion Department.

Exports to the EU rose 28%, while those to the US and Japan grew by 11% and 6%, respectively.

Exports to India jumped 39% on strong demand for automobiles and auto parts, chemical products, oil and jewellery, while shipments to the neighbouring group of Cambodia, Laos, Myanmar and Vietnam grew 11%.

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Trade

Thai exports down 4.5% in October

Thai Exports dropped by 4.5% year-on-year in October to US$20.8 billion, bringing the contraction in first 10 months of 2019 to 2.35%

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BANGKOK (NNT) – The overall export sector performance in October 2019 has lagged for the third consecutive year, resulting in a negative 4.54 percent growth, mainly due to the consequences of the trade war between the U.S. and China as well as lower oil prices.

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Trade

Thailand among leading beneficiaries of the U.S.-China trade war

The trade battle has “increased the importance of Thailand” as a base for manufacturing Japanese goods such as auto parts and electronics to be exported to America

Boris Sullivan

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Thailand has been a “leading beneficiary” from the ongoing trade fight between Washington and Beijing, according to Standard Chartered’s Clive McDonnell.

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India

RCEP trade deal hits snag over India’s demand

The 16 Asian and Oceanian countries involved in the regionwide RCEP trade deal have decided to delay the conclusion of that deal until next year.

Olivier Languepin

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RCEP negotiations hit a snag as India has grown wary of an expected influx of goods from China, with which the South Asian country runs a massive trade deficit.

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