5 Jul 2024
Trading
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30 May 2024
24 Jan 2023
Economic slowdown in Thailand’s trade partners during 2H22 and the high 2021 base caused Thailand’s outward trade in December 2022 to contract sharply for the third consecutive month at 14.6 percent YoY, equivalent to USD21,718.8 million. As a result, Thailand’s overall 2022 export growth stood at only 5.5 percent YoY. ... Read more
7 Dec 2022
First anniversary of China-Lao PDR railway offers another export channel via Thailand’s borders to promising areas in China ... Read more
24 Aug 2020
Thailand’s outward trade was USD18,819 million, shrinking 11.4 percent YoY in July 2020. Excluding oil, gold and arms shipments, Thai exports, however, contracted 13.0 percent YoY. Gold exports reverted to growth of 37.2 percent YoY in July in line with global gold prices, while industrial product and oil-related shipments continued to shrink, in particular automobiles, airconditioners, plastic pellets, chemical and refined petroleum products in alignment with global economic conditions and sluggish consumption abroad. Thai exports that continued to grow from the previous month include canned tuna, pet foods, rubber gloves, chilled/frozen chicken, semiconductors, transistors and diodes. As a result, Thai shipments during 7M20 shrank 7.7 percent YoY.... Read more
24 Jul 2020
Thailand’s outward trade recorded a steep contraction for the second consecutive month in June 2020. As a result, 1H20 exports shrank 7.1 percent YoY. June shipments were valued at USD16,444 million, shrinking 23.2 percent YoY due to the unfolding coronavirus (COVID-19) pandemic and lockdown measures in many countries, which have in turn weakened global demand and disrupted part of supply chains abroad, making it longer to transport goods from one country to another.... Read more
23 Mar 2020
Thai Exports in February 2020 remained a hodgepodge of temporary factors, being supported by consistent growth in gold exports but inhibited by a high base effect as a result of munitions rexports and crude oil prices in the preceding year. Meanwhile, the COVID-19 outbreak continued to affect Thai exports and imports in a limited scope as China was the the only country to announce a temporary lockdown of 18 cities to curb the spread of COVID-19 last month.... Read more
24 Feb 2020
The global economy is experiencing more risks, including the novel coronavirus (COVID-19) outbreak seen in many countries since early 2020. As a result, Thailand’s exports of gold, being a safe-haven asset, skyrocketed 299.6 percent YoY in January 2020, allowing Thai shipments overall to resume growth for the first time in six months of 3.35 percent YoY. Excluding the value of gold exports, Thai shipments overall shrank 1.45 percent YoY, bettering the 2.95 percent YoY contraction projected by analysts. ... Read more
6 Feb 2020
The World Health Organization, January 30, 2020, declared that the novel coronavirus (2019 n-CoV) outbreak is a public health emergency of international concern as the virus has spread internationally. In China, the 2019 n-CoV epidemic, which originated in Wuhan, Hubei province, has also spread to other cities, resulting in the lockdown of Taizho and Hangzhou in Zhejiang province while businesses in other cities have been suspended to control the spread of the disease. Such measures warrant close monitoring as they may hurt Thai businesses. ... Read more
25 Nov 2019
The value of Thai exports reached USD20,757.78 million in October 2019, shrinking 4.54 percent YoY. As a result, 10M19 shipments contracted at a faster pace than that seen during 9M19 of 2.35 percent YoY. The shrinkage in October exports was due to a number of factors, including persistent sluggishness seen in the global economy, the US-China trade dispute and volatility in the value of Thai gold exports, which reverted to a contraction of 22.24 percent YoY after posting high growth, thus serving as an export driver over the past 2-3 months. It was also caused by a high base of 2018 global crude oil prices, which caused the value of our oil-related exports to decline. Excluding the value of gold and oil-related product exports, Thai shipments contracted 1.2 percent YoY in October 2019.... Read more
30 Oct 2019
The US, October 25, 2019, announced the suspension of trade preferences for Thailand under the Generalized System of Preference (GSP), covering 573 items and costing approximately USD1.3 billion, effective over the next six months or April 25, 2020. Items that will no longer be eligible for GSP benefits account for one-third of Thailand’s GSP trade, which totaled USD4.3 billion in 2018. Of the top 30 items (in order of the 8-digit HS Code) exported to the US (which accounted for 53.2 percent of Thailand’s total export value to the US in 2018), only 4 items are eligible for GSP. Therefore, even if some of the 573 items are to be deprived of GSP benefits, Thailand’s outward trade overall to the US will barely be affected.... Read more
21 Oct 2019
Thai exports in September fell from the previous month, lower than the consensus of the analysts. The lackluster performance is in line with exports of other countries in the region which were affected by the worse-than-expected global economy and the prolonged trade war between the US and China. Outbound shipments from Thailand in September 2019 declined by 1.4 percent YoY. Although the figure is better than a 4-percent drop in the previous month, it is worse than the market consensus. In September, the value of main Thai farm exports such as rice, rubber and tapioca products contracted at a double-digit rate, dragging on the overall Thai outbound shipments. At the same time, the Thai industrial exports in September bounced back to positive territory, increasing 0.2 percent, driven by the shipments of vehicles, auto parts and components, electrical appliances and gold which continued to expand. Excluding gold consignments, the Thai exports would have contracted 2.8 percent YoY.... Read more
20 Sep 2019
The slowing global economy, persistent trade war and strong Baht caused Thailand’s outward trade to shrink 2.2 percent p.a. during 8M19. The value of August exports reverted to a contraction of 4.0 percent p.a. However, our industrial exports overall to the US continued to grow, including computers, electrical appliances, cars and auto-parts, reflecting positive impact from the trade war as the US needed to import those products to substitute Chinese imports. ... Read more
21 Aug 2019
Surging gold exports for the second consecutive month helped Thai shipments overall to resume growth for the first time in five months in July 2019. The value of July shipments came in at USD21,205 million, increasing 4.28 percent YoY, driven partly by skyrocketing gold exports for the second consecutive month at 406.92 percent YoY as investors globally increased their holdings of gold, which is considered as a safe haven asset after the global economy experienced heightened risks stemming from the US-Iran geopolitical conflict and unresolved US-China trade dispute. Excluding gold exports, Thailand’s outward trade overall contracted 0.4 percent YoY in July 2019, led by shipments to ASEAN (9) and the EU while exports to major key trade partners, such as Japan, China and the US, reverted to high growth.... Read more
22 Jul 2019
Skyrocketing gold exports supported Thai shipments to shrink at a slower pace in June 2019. Thailand’s June outward trade reached USD21,409.3 million, representing a contraction for the fourth consecutive month at 2.15 percent YoY. The shrinkage, however, was slower than those reported during the preceding three months due partly to the 317.4 percent YoY surge in gold exports. Excluding gold shipments, Thai exports overall contracted 8.7 percent YoY, led largely by major export categories to all key markets.... Read more
22 May 2019
Slowing global economy pressures Thai exports in April 2019 to contract for a second consecutive month. The outbound shipment of Thai goods in April 2019 totaled USD18,555.6 million, declining 2.57 percent YoY. Consequently, Thai exports in the first four months of 2019 dropped 1.86 percent YoY, a further decline from the first quarter. The contraction is attributed to slowing economic growth of key trading partners especially China and the European Union. Moreover, high base effect, due to front loading of electronic products and a sharp increase in prices of rice and tapioca in the world market in April 2018 have contributed to the lackluster export performance.... Read more
12 Feb 2019
Thai exports in 2018 rose 6.7 percent YoY, driven mainly by commodity prices. Nonetheless, Thai export growth was significantly lower than those of our neighboring countries. Traditionally, intermediate goods accounted for a majority of the entire Thai export structure, showing that connectivity with value chains in different countries is important for Thai trade. Nonetheless, the exports of intermediate goods from Thailand have shown signs of slowdown and declining share in the total export structure. However, the share of Thai finished products increased. At the same time, the exports of intermediate goods from Vietnam and the Philippines rose at the expense of the market share of Thai exports, especially electronics. This trend shows Thailand’s diminishing competitive edge and less important role in the supply chain of the electronic industry. If the trend continues, it will hurt Thailand’s ability to reap profits from the electronic industry, which has promising growth prospects in the future. ... Read more
28 Sep 2018
Over the first eight months of 2018, Thailand’s border trade and transit trade were valued at THB922.312 billion, growing 6.5 percent YoY. Although growth was slower than the 9.8-percent pace reported in 2017, KResearch views that the THB-denominated amount of our border trade and transit trade for the entire year will increase around 7.5 percent, given high oil prices and foreign exchange rates that will likely soften compared to the previous year.... Read more
20 Jul 2018
Overall, Thai outbound shipments in 1H18 rose 11.0 percent over year. The growth is attributed mainly to the sustained momentum of economic recovery and the cyclical uptrend of electronic products, which are also expected to drive Thai exports in 2H18. The expansion rate in 2H18 however is expected to proceed at a slower rate at 6.8 percent or an average monthly export value of USD21.939 billion. The deceleration is attributable to the higher base last year, coupled with the fact that prices of many commodities are likely to stay at similar levels to those registered in the same period last year.... Read more
21 Feb 2018
Contrary to the past 5-6 years when the value of January exports tended to fall over-month, January shipments in 2018 posted better-t... Read more
22 Jan 2018
Thailand saw a trade deficit in December 2017 for the second time in the year (after one in July 2017) due to higher than expected imports that had... Read more
9 Jan 2018
Over recent years, Thai exports to the US have been relatively competitive, thanks to the US Generalized System of Preferences (GSP). Howeve... Read more
22 Dec 2017
Thailand's outward trade grew steadily for the ninth consecutive month in November, thus sending 11M17 export performance to 10.0 percent... Read more
22 Nov 2017
Thai export value in the first month of 4Q17 (October) continues to show bullish signs. - Exports related to oil prices continued to rise,... Read more
19 Oct 2017
During the first nine months of this year (January-September 2017), Thai exports soared 9.3 percent YoY. September results continued higher to 12.2... Read more
20 Jul 2017
The Thai export value stood at USD20.28 billion in June, reaching the USD20 billion level for the second time this year. That total amount exceeded ... Read more
30 Jun 2017
In the US State Department's 2017 Trafficking in Persons (TIP) report released on June 27, Thailand was still on the Tier 2 Watch List of the annua... Read more
26 Apr 2017
The first-round results of the French presidential election were as expected by the market. Although Emmanuel Macron did not get a majority of the ... Read more
12 Apr 2017
US President Trump's signing of two executive orders on March 31, 2017, marked his first step toward tackling the persistent US trade deficit. Among... Read more
23 Mar 2017
Thai exports recorded negative performance at (-)2.8 percent YoY in February 2017. However, that figure would have been 8.5-percent growth, if goods... Read more
28 Feb 2017
Thai exports exhibited satisfactory growth for the third consecutive month in January, reaching 8.8 percent YoY. Apparent reasons for this included... Read more
10 Feb 2017
CLMV nations will likely continue to be ASEAN's best performing economies, with their average growth projected at 6.5 percent for 2016. Major contri... Read more
24 Jan 2017
The value of Thai exports during December 2016 reported substantial growth for the second consecutive month. Thus, our 2016 outward trade reverted t... Read more
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