exports

  • Economy NewsThai baht hits highest level against the USD in six years
    ThaigerPublished: 08:22, 31 December 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…

  • Economy NewsThai exports down 4.5% in October, 2.35% for the year
    ThaigerPublished: 08:02, 22 November 2019
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    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
    Maya TaylorPublished: 11:10, 01 November 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
    ThaigerPublished: 10:57, 13 October 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…

  • Economy NewsThailand’s August exports fall further than expected
    ThaigerPublished: 13:13, 20 September 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…

  • Business NewsIndustry group calls for further cut in Thai policy interest rate
    ThaigerPublished: 14:39, 16 September 2019
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    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
    Maya TaylorPublished: 08:51, 12 September 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
    ThaigerPublished: 09:43, 08 September 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…

  • Business NewsBaht to climb higher against USD, more pressure on exports
    ThaigerPublished: 16:45, 27 August 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…

  • Thailand NewsRice traders blame strength of Thai baht for hurting exports
    ThaigerPublished: 10:08, 27 August 2019
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    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’
    ThaigerPublished: 15:22, 26 August 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
    ThaigerPublished: 09:29, 24 August 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 NewsEconomists predict Thai exports could fall 3.1% this year
    ThaigerPublished: 08:11, 23 July 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…

  • World NewsSingapore’s exports crash in June, the biggest drop in 6 years
    ThaigerPublished: 16:11, 17 July 2019
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    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
    ThaigerPublished: 12:24, 01 June 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
    ThaigerPublished: 12:25, 25 May 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 NewsExport growth expected to be the lowest in four years
    ThaigerPublished: 13:50, 15 May 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 NewsThailand slashes 2019 exports estimates as trade war escalates
    ThaigerPublished: 10:11, 13 May 2019
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    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
    ThaigerPublished: 17:07, 03 April 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
    ThaigerPublished: 14:16, 22 February 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…