Thai exports
- Business News
Thai export growth target maintained despite 7-month shipment decline
Despite a decline in Thai exports for seven consecutive months, the Commerce Ministry maintains its export growth target of 1-2% for the year. Keerati Rushchano, the Permanent Commerce Secretary, predicts that the export outlook will remain negative due to the high inventory held by trading partners, causing delays in orders. However, he expects exports to improve in the second half of…
- Business News
Thai food exports forecast to grow despite challenges
Despite economic uncertainties, inflationary pressures, foreign exchange fluctuations, and rising production costs, Thai food exports are predicted to grow by 2.1% to 1.5 trillion baht this year. The main factors supporting this outlook include the government’s policies to stimulate economic growth, the country’s reopening after the pandemic, global supply chain shortages, increased concerns about food safety, and the high-quality standards…
- Business News
Increase in fresh fruit exports to China expected due to improved land transport flow
Exports of fresh fruit to China are expected to surge by at least 10% this year, thanks to improved land transport flow and better cross-border trade facilitation. Commerce Permanent Secretary Keerati Rushchano revealed that land border transportation for fresh fruit is predicted to rise significantly in the coming months, with durian making up about 80-90% of the transported produce. Fresh…
- Business News
TNSC lowers Thailand’s export growth forecast due to global economic challenges
The Thai National Shippers’ Council (TNSC) has revised its export growth forecast for Thailand, predicting a 0-1% increase due to negative factors and uncertainty in the US and Chinese economies, as well as ongoing geopolitical conflicts. Despite the downward revision, the group remains confident that Thailand’s exports will not contract this year. Chaichan Chareonsuk, chairman of the TNSC, stated that…
- Economy News
Government economic agency says China’s zero-Covid policy hurting Thai economy
China’s relentless pursuit of a zero-Covid status, coupled with tough import restrictions, is having a negative impact on the Thai economy. So says the Thai economic planning agency, the National Economic and Social Development Council. According to a Nation Thailand report, the NESDC says it’s watching China closely, after a strict lockdown was enforced in Shanghai and other cities. “China’s…
- Economy News
Thailand’s March exports spike nearly 20% year on year
Last month, Thailand’s exports surged at an unexpectedly high rate, jumping by 19.5% when compared to the same time last year. A Reuters poll conducted in March had predicted the country’s exports would only rise by 2.4%. According to the Thai customs department data, 2 major products contributing to the export jump were gold, and electronics. Gold exports in March were…
- Economy News
EU Free Trade Agreement talks resume after 7-year coup hiatus
After a 7-year delay following Thailand’s military coup, talks have resumed to create a Free Trade Agreement between Thailand and the European Union. The Ministry of Commerce hosted a meeting this morning between Thailand’s Commerce Minister, also a Deputy Prime Minister, and the Ambassador of the European Union to Thailand. The two met to have conversations about a variety of…
- World News
Philippines confirms delay in imports of AstraZeneca doses from Thailand
The Philippines has announced that the arrival of a first batch of AstraZeneca vaccines being imported from Thailand has been delayed. The delivery of the vaccines, manufactured in Thailand and ordered by the Philippines, has now been pushed back by several weeks. According to a Bangkok Post report, the development gives rise to questions about Thailand’s distribution plans for Southeast…
- Economy News
8% March growth for Thai exports in promising recovery
An 8% increase in exports is expected for March fueled by online officials connecting foreign buyers with Thai exporters. Commerce Minister Jurin Laksanawisit touted the success of this plan to have officials working as salesmen to promote Thai products worldwide, the results of which produced 14.4 billion baht in exports last year. The Trade Policy and Strategy Office will release…
- Thailand News
Stuck ship partially freed, Thai exports look to bypass Suez
The massive container ship stuck in the Suez Canal, the world’s busiest trade routes, has been partially freed and refloated. The 400-metre cargo ship was pushed off track by strong wind and has been wedged sideways, blocking the trade route in Egypt. Thai exporters have been looking into bypassing the Suez Canal and some may still have to seek extensions…
- Covid-19 News
Opportunities for 2020 export growth in Thailand
Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and fiscal policies, there is still a chance that Thailand could reduce the…
- Crime News
Minister pledges to sort out Thailand’s export procedures in wake of New Zealand drugs bust
PHOTO: www.chiangraitimes.com Following the seizure in New Zealand last month of shipping containers from Thailand packed with drugs, Deputy Transport Minister Athirat Rattanaset says the country must improve its maritime export procedures. He was speaking at a meeting with exporters, saying the drugs bust in New Zealand has had a negative impact on Thailand’s image and calling on them for…
- Business News
Urgent meetings to consider impact of US-China trade war on Thai exports
The Thai government is reacting quickly to perceived threats to the Thai export business by the ongoing US-China trade wars which have been ramped up in the past week by, firstly, US President Donald Trump rising the tariffs on a raft of additional Chinese items. Then China announced yesterday that it will impose tariffs on US$60 billion of US goods from June…
