Tuesday, November 12, 2019

Exports improve as Thai exporters adapt to the situation

Oct 21. 2019
Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office
Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office
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By The Nation

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In September, Thailand’s exports contracted 1.4 per cent year on year to US$20.481 billion (Bt319.88 billion), while imports contracted 4.2 per cent year on year to $19.206 billion, resulting in a trade surplus of $1.275 billion.

Exports during the first nine months of this year dropped 2.11 per cent year on year to $186.572 billion, while imports fell 3.7 per cent to $179.191 billion, resulting in $7.381 billion of trade surplus, Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office, said. 

Key reasons for the negative export are the US-China and US-EU trade wars, UK’s Brexit and appreciation of the baht. 

However, the export situation appears to have improved as the exporters were able to adapt to the situation, along with the government’s launch of measures to help expand markets and seek new trading partners.

She added that in the last quarter, exports could hit zero per cent or as low as minus-1 per cent if the average export value exceeds $20.8 billion a month. She said she is confident that next year, Thai exports will rise between 1 and 2 per cent. 

To achieve this rate of expansion, the country’s export value will have to be between $21 billion and $25 billion, the exchange rate at Bt30.5 to Bt31.5 against the dollar and oil priced at between $60 and $70 per barrel.

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