24 Jun 2020
Trading
The value of Thailand’s outward trade stood at USD16,278 million, shrinking 22.5 percent YoY in May 2020 due primarily to lockdown measures abroad. As a result, Thai exports contracted 3.7 percent YoY during 5M20.... Read more
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23 Dec 2019
Thai exports in November 2019 totaled USD19.657 billion, dropping below USD20 billion for the first time in seven months and plunging for four consecutive months by 7.4 percent YoY, which marks the worst contraction in 43 months. Consequently, Thai exports in the first 11 months (Jan-Nov) of 2019 shrank by 2.8 percent YoY. Thai consignments in November 2019 fell virtually in every major market, reflecting the poor economic performance of Thailand’s major trading partners. There is an exception, though.... 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
14 Aug 2019
Hong Kong’s protests have escalated to the shutdown of Hong Kong international airport, shaking the reputation of one of the Asian financial hubs. Air transportation for passenger and cargo is disrupted. KResearch views that since the volume of Thailand’s outbound shipments to Hong Kong is small; Hong Kong’s demonstrations are unlikely to have significant impacts on the air cargo of Thai goods’ shipment.... Read more
30 May 2019
The US Department of Treasury issued the report on macroeconomic and foreign exchange policies of the US’ major trade partners on May 28, 2019, which is about a month behind the original schedule. The report does not specifically label any country as a currency manipulator in order to bolster advantages of the US in trade. However, the US has revised the criteria/conditions of the report, resulting in changes on two important issues: 1) the number of the US’ trade partners that has been included in the assessment increases to 21 countries, compared to 12 countries before; and, 2) the criteria on current trade surplus have been tightened. Thailand, however, has not been added to the US Monitoring List as previously feared. ... 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
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
21 Sep 2018
The value of Thailand’s outward trade reached THB22.794 billion for August, representing a new record high. However, the August export growth grew at a slower pace at 6.7 percent YoY, due partly to a high 2017 base and 66.6 percent contraction in gold shipments. If the value of gold exports was excluded, our August shipments grew 10.3 percent YoY. Factors contributing to favorable export growth over the past 18 straight months include the upturn in global crude oil prices. In August, global crude oil prices were substantially higher than August 2017. In addition, Thai car, accessories and auto-parts shipments to Vietnam reverted to high growth. Our agricultural exports also improved, including rice and cassava products, because their shipment volume contracted less. ... Read more