exports

  • World NewsUS Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator

    US Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator

    Thailand’s trade surplus with the US has now exceeded US$20 billion. Bloomberg reports that this could trigger the Thai currency to be added to the US Treasury’s watchlist of “currency manipulators”. According to US Census Bureau data, the surplus reached US$20.05 billion in the 12 months up to the end of November 2019. That exceeds a $20 billion upper limit…

  • Economy NewsThai baht hits highest level against the USD in six years

    Thai baht hits highest level against the USD in six years

    The baht finished in spectacular fashion after a year as one of the world’s most stable currencies, when it reached 30.15 baht against the US$, its highest level in six years. Kasikornbank Bank is forecasting that the Thai baht could move into a range of 30-30.30 baht to the dollar this week (up to January 3). Investors have been selling USD…

  • Economy NewsThai exports down 4.5% in October, 2.35% for the year

    Thai exports down 4.5% in October, 2.35% for the year

    PHOTO: Commerce Ministry Thai exports have crashed 4.5% for October 2019, compared with the same month last year. The total contraction in first 10 months of this year has now averaged 2.35%, and things don’t look like improving any time soon, according to the Commerce Ministry, as reported in the Bangkok Post. The director-general of the ministry’s Trade Policy and…

  • World NewsPhilippines lifts restriction on rice imports from Thailand

    Philippines lifts restriction on rice imports from Thailand

    PHOTO: VietnamPlus The Philippines has suspended a trial measure put in place to control imports of Thai rice following objections from Bangkok. The measure was initially put in place after the Philippine Department of Agriculture deemed existing regulations too lax. Rice imports had been under the control of the country’s National Food Authority until the government took over and attempted to…

  • Tourism NewsEconomic ministers to meet next Monday for economic and tourism ‘Council of War’

    Economic ministers to meet next Monday for economic and tourism ‘Council of War’

    The council of economic ministers will meet next Monday, on October 7 in Bangkok, to discuss the current economic and tourism situation. Kobsak Pootrakool, the deputy secretary-general to the PM for political affairs, says the meeting will confront obstacles facing the country’s tourism industry. “The ministers will also discuss the country’s export situation”. The Nation reports that the Commerce Ministry…

  • Economy NewsThailand’s August exports fall further than expected

    Thailand’s August exports fall further than expected

    Some more lumpy economic news for Thialand as the focus is on the monthly customs clearances to provide a compass for the country’s economy. Customs-cleared exports dropped in August 4% compared to the same month a year earlier. Exports unexpectedly rose in July, according to the commerce ministry today. The decline in August has shown itself to be greater than…

  • Business NewsIndustry group calls for further cut in Thai policy interest rate

    Industry group calls for further cut in Thai policy interest rate

    “Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…

  • Economy NewsStrong baht poses a tough challenge for Thailand

    Strong baht poses a tough challenge for Thailand

    PHOTO: Dreamstime.com Thailand’s currency is currently giving it a major economic headache, according to a Bloomberg report shared by ThaiVisa this morning. The Thai baht has been the best performer globally against the US dollar for over 5 years now, but that strength has caused growth estimates to be cut for an economy relying on trade and tourism. The ongoing…

  • Economy NewsThailand’s gold and jewellery exports rise nearly 30%

    Thailand’s gold and jewellery exports rise nearly 30%

    The export value of gems and jewellery grew by 29.3% in the past seven months despite unfavourable trading terms with the rising baht. The Gem and Jewellery Institute of Thailand director, Duangkamol Jiambutr, puts the value of exports from January to July at US$9 billion or approx. 280 billion baht, a 29.3% increase year on year. Gold exports led the climb,…

  • Business NewsBaht to climb higher against USD, more pressure on exports

    Baht to climb higher against USD, more pressure on exports

    The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…

  • Thailand NewsRice traders blame strength of Thai baht for hurting exports

    Rice traders blame strength of Thai baht for hurting exports

    PHOTO: Wikipedia The president of the Thai Rice Exporters Association, Charoen Laothamtas, is concerned that the strong Thai baht is having a negative impact on rice exports. He notes that the baht has risen about 6% against the US dollar since January, whereas the Vietnam dong has held steady and the Indian rupee has even weakened. “The stronger baht has…

  • Business NewsUS-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’

    US-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’

    US President Trump has caused widespread panic in Asian financial markets today after Fridays “tariff tantrum” where he used Twitter to announce new levels of tariffs on Chinese imports after China announced their response to his previous ramping up of the ongoing trade war between Washington and Beijing. Asian shares have headed southward today after the President escalated tariffs in…

  • Business NewsBoard of Trade want Bank of Thailand to urgently address the baht

    Board of Trade want Bank of Thailand to urgently address the baht

    PHOTOS & GRAPHIC: The Nation The Board of Trade are meeting with the Bank of Thailand tomorrow (August 8) to discuss the value of the Thai baht, its appreciation against the US dollar and Chinese yuan, and the impact on the country’s exports. Sanan Angubolkul, the Board of Trade’s vice chairman, speaking to The Nation, says the baht has appreciated around…

  • Business NewsEconomists predict Thai exports could fall 3.1% this year

    Economists predict Thai exports could fall 3.1% this year

    Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will drop this year by between 1.6-3.1%. “Although the US-China trade meeting after the G20…

  • World NewsSingapore’s exports crash in June, the biggest drop in 6 years

    Singapore’s exports crash in June, the biggest drop in 6 years

    Edited from The Straits Times – Asian News Network Singapore’s exports have crashed by double digits for the fourth straight month. June’s figures show shipments in the key electronics sector sinking by 32%. This is the biggest year-on-year drop since shipments sank 33.2 per cent in February 2013. It is also sharply below analysts’ expectations of a 9.6% plunge, according…

  • Business NewsThailand’s export growth expectations revised down to just 3% in 2019

    Thailand’s export growth expectations revised down to just 3% in 2019

    “Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…

  • Business NewsApril’s exports fall to the lowest level in 24 months

    April’s exports fall to the lowest level in 24 months

    “Deputy PM Somkid Jatusripitak has scheduled a meeting on May 31 with Thailand’s commercial attachés from across the world in a bid to boost exports.” Thailand’s exports fell 2.6% last month (April) to US$18.5 billion, the lowest level since May 2017. Thai PBS reports that imports in April also dropped by 0.72% to about US$20 billion, resulting in a trade…

  • Business NewsExport growth expected to be the lowest in four years

    Export growth expected to be the lowest in four years

    Export growth for Thailand this year is is now being pegged at less that 1%, the lowest growth in four years. Mr. Ath Pisarnwanich, director of the International Trade Study Centre at the University of Thai Chambers of Commerce is saying the low growth is a result of both the escalating US-China trade war and the Vietnam-EU free trade agreement. The…

  • Business NewsThailand slashes 2019 exports estimates as trade war escalates

    Thailand slashes 2019 exports estimates as trade war escalates

    by Phuwit Limviphuwat Thai exporters are expected to pay a heavy price as the ramping up of the US-China trade war continues. The US has now launched a new round of tariffs on Chinese imports. Last Friday US President Donald Trump tweeted: “Talks with China continue in a very congenial manner, there is absolutely no need to rush, as Tariffs…

  • Business NewsForecasts for Thai export growth revised upwards

    Forecasts for Thai export growth revised upwards

    The meeting of the Joint Standing Committee on Commerce, Industry and Banking has revised upwards its forecast of export growth in 2019 to between 6.5 – 7.5% from the previous forecast of between 3.5 – 4.5%. The revision is in line with export growth in the past eight months, the committee said. Growth momentum is expected to continue during the…

  • Business NewsExports rise nearly 7% in August, the highest this year

    Exports rise nearly 7% in August, the highest this year

    Thai exports have gown at 6.68% to US$23.8 billion during the month of August, the highest gain so far this year. The announcement from Ms Pimchanok Wornkhorporn, director of Trade Policy and Strategy Office of the Commerce Ministry. Exports for the first eight months of this year rose 10.03% and, for the rest of 2018, are expected to grow 8…