exports

  • Economy NewsThailand could fall to third place in rice shipments in 2020
    ThaigerSaturday, February 15, 2020
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    Thailand could fall to third place in rice shipments in 2020

    Weaker competitiveness, drought and changing market demand could see Thailand lose its place as the world’s second-biggest exporter of rice this year. Higher production costs compared to rivals, and volatile foreign exchange rates mean Thailand risks losing out to Vietnam, according to Charoen Laothamatas, president of the Thai Rice Exporters Association. “Thailand has shipped the same rice varieties for 30…

  • Economy NewsBaht loses nearly half its 2019 gains
    ThaigerSaturday, February 1, 2020
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    Baht loses nearly half its 2019 gains

    The Thai baht, whose meteoric rise seemed unstoppable only weeks ago, has become Asia’s worst performing currency so far this year. It’s lost nearly half of its 2019 gains in just a month as fears over the Wuhan Coronavirus outbreak threaten Thai tourism. The Year of the Rat has not been kind to Thailand. As late as December, there were…

  • World NewsUS Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator
    ThaigerFriday, January 10, 2020
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    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
    ThaigerTuesday, December 31, 2019
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    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…

  • World NewsPhilippines lifts restriction on rice imports from Thailand
    Maya TaylorFriday, November 1, 2019
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    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…

  • Economy NewsThailand’s growth forecasts for the rest of 2019 slashed again
    ThaigerSunday, October 13, 2019
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    Thailand’s growth forecasts for the rest of 2019 slashed again

    Following their most recent meeting, the Joint Standing Committee on Commerce, Industry and Banking has announced Thailand’s economic growth this year has been revised downward to between 2.7 – 3.0% from the previous projection of 2.9 – 3.3%. It has also revised down its prediction of this year’s exports to between minus 2 – 0%. The committee says the revised…

  • Tourism NewsEconomic ministers to meet next Monday for economic and tourism ‘Council of War’
    ThaigerMonday, September 30, 2019
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    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
    ThaigerFriday, September 20, 2019
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    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…

  • Economy NewsStrong baht poses a tough challenge for Thailand
    Maya TaylorThursday, September 12, 2019
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    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 NewsWhat goes up must come down – the battle of the baht
    ThaigerSunday, September 8, 2019
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    What goes up must come down – the battle of the baht

    Newton’s law looms over the Thai baht. Meanwhile, the Thai baht continues to be the best performing currency in Asia. The Thai currency is riding a 6-year high against the USD and, this year, has surged 8% against the US currency. But the strong baht is causing knock-on effects to the rest of the Thai economy, battering exports and stifling tourist…

  • Economy NewsThailand’s gold and jewellery exports rise nearly 30%
    ThaigerFriday, September 6, 2019
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    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
    ThaigerTuesday, August 27, 2019
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    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…

  • Business NewsUS-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’
    ThaigerMonday, August 26, 2019
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    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…

  • World NewsUS and China ramp up the rhetoric and the tariffs in a day of tit-for-tat
    ThaigerSaturday, August 24, 2019
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    US and China ramp up the rhetoric and the tariffs in a day of tit-for-tat

    Beijing has unveiled a new round of retaliatory tariffs on the US valued around US$75 billion. China will now place additional tariffs of 5%-10% on US imports starting next week. The tit-for-tat trade war between the world’s two largest economies is causing widespread disruption to supply chains and long-held trade conventions. China’s Finance Ministry says they will also resume tariffs on…

  • Business NewsBoard of Trade want Bank of Thailand to urgently address the baht
    ThaigerWednesday, August 7, 2019
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    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
    ThaigerTuesday, July 23, 2019
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    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…

  • Business NewsThailand’s export growth expectations revised down to just 3% in 2019
    ThaigerSaturday, June 1, 2019
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    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…

  • Bangkok News25 workers injured after container explosion at Laem Chabang Port
    ThaigerSaturday, May 25, 2019
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    25 workers injured after container explosion at Laem Chabang Port

    At least 25 port workers have been injured and locals evacuated after an explosion in a container on a ship at dock at the Laem Chabang Port in Chon Buri, east of Bangkok, this morning. Laem Chabang’s port director Vice Admiral Yutthana Mokkhao says an urgent investigation is being undertaken to determine the contents of the container. The Hong Kong ship…

  • Business NewsApril’s exports fall to the lowest level in 24 months
    ThaigerThursday, May 23, 2019
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    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
    ThaigerWednesday, May 15, 2019
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    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 NewsForecasts for Thai export growth revised upwards
    ThaigerWednesday, April 3, 2019
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    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 NewsThai exports fall 5.7 percent in January, year-on-year
    ThaigerFriday, February 22, 2019
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    Thai exports fall 5.7 percent in January, year-on-year

    Thai export results have dipped for the third straight month, falling more than 5.65% compared to a year earlier. The fall was a lot bigger than expected, according to the Thai commerce ministry. Shipments contracted 1.72% in December, compared to a year earlier as well. January’s export drop was due to falling shipments of rice, gold, electronics and cars, according to the…

  • Business NewsExports rise nearly 7% in August, the highest this year
    ThaigerSaturday, September 22, 2018
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    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…