Connect with us

Economy

Thai exports low, expected to improve over time

Published

 on 

FILE PHOTO

Thai exports have significantly dropped, but the Thai Ministry of Commerce seems to have high hopes that it will get back on track. With the coronavirus prevention measures easing up and businesses getting back to normal, the ministry says the it is on the “path to recovery.”

Thailand’s exports dropped by over 11.37% and imports plummeted by 26.38% when compared to last year’s numbers, according to the ministry’s Trade Policy and Strategy Office. Exports hit a record low in June, falling by 23.2%. It was the lowest it’s been since July 2009, according to director of the Trade Policy and Strategy Office Pimchanok Vonkorpon. She noted that while July’s exports are low, they are much better than they were in June.

“So if you compare June and July, that means that Thai export figures are picking up and gradually recovering.”

She mentioned some specific exports that are increasing. Foods like tapioca, frozen chicken and pork, canned tuna and animal food are increasing in demand. Other items on the rise are furniture, electrical appliances, and household items. Even gold exports are improving, she says.

Pimchanok says she expects Thai exports to increase gradually over the next 5 months, adding that she thinks farm products and food exports will go up.

While Thai exports are picking back up, they’re expected to be down by 8% to 9%  by the end of the year. In a statement from the ministry, they say all exports to most of the major trading partners, while lower than previous years, have improved.

“This reflects that exports are likely to improve gradually, now that several countries have succeeded in controlling the Covid-19 situation and eased lockdown measures, along with government stimulus measures to accelerate economic recovery after Covid-19.”

SOURCES: Xinhua |Bangkok Post

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

3 Comments

3 Comments

  1. Toby Andrews

    Tuesday, August 25, 2020 at 4:37 pm

    Talk it up Thai ministry, but the figures show Thai imports and exports are on a long slide downwards.
    Exports are the lowest in the last 12 years at 23.2 percent, and the ministry states it is expected to go up 8 percent in July!
    Still bad though even if it happened.

  2. Bobby m

    Tuesday, August 25, 2020 at 6:42 pm

    Another sign from the rest of the world. Just like the investments that will not be coming your way.

  3. Ray W.

    Wednesday, August 26, 2020 at 3:29 am

    You’ve locked all the foreigners out, without any accountability, in-person QAQC, and the staggering xenophobia why would thier be exports. Open the boarder, accept and manage the risk, stop the draconian lockdown. We are losing more people to the lock downs then to covid. Its crazy!

You must be logged in to post a comment Login

Leave a Reply

Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

Follow Thaiger by email:

Video22 mins ago

Thailand News Today | 9 year olds smoke cannabis on Pattaya Beach in Thailand

Economy1 hour ago

Thai baht soars to six-month high against US dollar

Pattaya1 hour ago

Motorcycle taxi riders rally against unlicensed ride-share app drivers in Pattaya

Sponsored9 hours ago

Where you can get cannabis in Bangkok

Pollution2 hours ago

Over 100 tonnes of garbage estimated near Phuket Fishing Port

Thailand2 hours ago

Stop giving monkeys cigarettes, beg locals in Lop Buri, Thailand

Thailand2 hours ago

World Cup broadcasting soap opera drama rumbles on

Join the conversation on the Thaiger Talk forums today!
Transport2 hours ago

Thai Vietjet plans new routes to China, India, Japan, Vietnam

Crime3 hours ago

Police arrest weight loss pill executive for causing 4 deaths in Thailand

Phang Nga3 hours ago

Phang Nga officials find more leatherback turtle eggs

Tourism4 hours ago

Thai AirAsia Melbourne and Sydney connections take to the air

Bangkok4 hours ago

Fireworks to dazzle Bangkok’s Chao Phraya River area on New Year’s Eve

Medical4 hours ago

Resurgence of AIDS in Thailand overshadows UNAIDS summit

Phuket4 hours ago

Thai VietJet cancels Phuket – Bangkok flight last minute over 1 extra passenger

Food5 hours ago

Thailand’s top cheesemaker toasts his own success

Crime5 hours ago

New details unfolding over alleged assault by Pattaya loan sharks

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending