Exports decline 0.1%
The sluggish global economy amid weak prices of commodities and crude oil contributed to a 0.1-per-cent decline in Thai exports in June from the same month last year.
Exports for the first half of this year shrank by 1.6 per cent.
However, the situation in major export markets is improving, especially in the US, Australia and major Southeast Asian countries.
Imports of vehicle components and industrial raw materials have also rebounded, as well as commodity prices after oil prices picked up from last year.
Thai exports should do better in the second half of this year, as Thailand’s sluggish export situation is better than many other nations’.
Thai exports in June edged up 6.5 per cent to Bt642.39 billion from the same month of last year, while imports retreated 4.2 per cent to Bt579.66 billion, leaving a trade surplus of Bt62.73 billion.
For the first half, exports climbed 6.9 per cent to Bt3.72 trillion, while imports were Bt3.32 trillion, taking the trade surplus to Bt401.66 billion.
TISI slips in June
The Thai Industries Sentiment Index in June edged down to 85.3 from 86.4 in the previous month over concerns for the fragile domestic economy and risks to the global economy, foreign-exchange fluctuations and the impact of British voters’ decision to leave the European Union. Scores below 100 indicate low sentiment.
Chen Namchaisiri, chairman of the Federation of Thai Industries, said yesterday that other concerns were price competition, raw-material shortages and higher production costs.
Surapong Paisitpattanapong, spokesman of the FTI’s Automotive Industry Club, said that in June, vehicle production jumped 18.6 per cent year on year to 179,875 units.
Auto exports surged 39.4 per cent to 107,025 units, while domestic new-car sales rose 9.5 per cent to 66,049 units in the month.
SME BANK’S NET JUMPS 82.8% IN FIRST HALF
The Small and Medium Enterprise Development Bank has shown a vast improvement in net profit of 82.8 per cent to Bt1.10 billion in the first half of this year from the same half last year. The increase was attributed to expansion of loans and effective management of non-performing loans, operating expenses and cost of funds.
FITCH DOWNGRADES PTT
Fitch Ratings has downgraded PTT’s Long-Term Local-Currency Issuer Default Rating (IDR) to “BBB+” from “A-” with a “stable” outlook. This follows the downgrade of Thailand’s Long-Term Local-Currency IDR to “BBB+” from “A-” with stable outlook last Friday. The rating agency affirmed PTT’s Long-Term Foreign-Currency IDR at “BBB+”, Short-Term Foreign-Currency IDR at “F2”, National Long-Term rating at “AAA(tha)” and National Short-Term Rating at “F1+(tha)”.