 |
|
|
| |
|
|
|
|
|
| Thailand's Economy and Exports in 2001 |
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
||||||||
|
||||||||||
 |
 |
|||||||||
 |
The International Monetary Fund reports that the world economy
slowed in 2001, with an overall growth of just 2.4 percent compared to
the 4.7 percent achieved in 2000. The United States passed through a period
of instability after the terrorist attacks on September 11, while the
European Union was beset with increasing costs of consumer products and
a decline in industrial manufacturing. Japan is still in the midst of
an economic slump and is suffering internal issues involving financial
institutions and low export volumes. These factors led to poor economic
performances in the ASEAN countries, and in other regions including Latin
America, most notably Argentina and Brazil; in the Middle East and in
Africa; and in Middle and Eastern Europe. |
|||||||||
|
|
|
||||||||
|
||||||||||
|
Thailand has inevitably been influenced by the global economic downturn. Lower prices throughout the world markets, especially in agricultural products, led to a growth of export volumes, but it reduced the value of the products themselves. Consequently, gross export volume in 2001 was US$ 65.376 billion, a decrease of 6.5 percent from the US$ 69.872 billion recorded in 2000. Thailand's imports fell slightly by 0.6 percent during 2001, with the total standing at US$ 61.852 billion. The resultant trade surplus was US$ 3.551 billion. Thai exports in 2001 enjoyed a better overall performance than did those
of other countries in the Asian region. One reason was that diversity
of production avoided the risks involved in placing too great a reliance
on a limited number of product categories. Another was that more effective
market distribution methods generated a wider market base.
|
||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||
|
The export of agricultural products in 2001 grew in
volume, but ended the year 17.1 percent down overall in value because
of intensely competitive prices. Frozen and processed foods, notably prawn
and chicken continued to perform strongly, as did tapioca. Sugar was a
substantial export performer, increasing its value by 5.2 percent. The
rubber products category failed to maintain its value despite a steady
growth in export volume, a result of price competition in the world markets.
Industrial products including radios, televisions and parts,
integrated circuits, diodes, transistors and semiconductors, colored cathode
ray tubes, and printed circuit boards declined in value as a category
by 8.3 percent. However, some major products became more successful in
the export markets: automobiles and parts, air conditioners and parts,
video recorders, sound equipment, electric fans, jewelry, cosmetics, sports
equipment, cement, pharmaceuticals and printed matter. |
|||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
The world economic situation, trade barriers and intense
price competition led Thailand's exports to our major markets, namely
the USA, ASEAN, the EU and Japan, to decline steadily through 2001. Thailand's
exports to the USA dropped by 10.7 percent, and to ASEAN by 7.0 percent.
Exports to the EU declined by 4.1 percent, and to Japan by 3.2 percent
in the second half of the year despite a slight increase in the first
half.
Thailand's exports to the newer markets declined overall by 5.9 percent. Taiwan, Australia and South Asia marked the highest fall in importing products and services from Thailand, at 21.5 percent, 15.1 percent and 10.9 percent respectively. Exports to other new markets, namely Hong Kong, the Middle East, South Korea and Indochina decreased 5.9 percent, 4.1 percent, 3.9 percent and 3.1 percent respectively. There was however growth in other markets. China's import
of Thai products grew by 1.3 percent, Africa by 15.5 percent, Latin America
by 1.9 percent, Eastern Europe by 2.5 percent, and Canada by 0.2 percent.
|
||||||||||||||||||||||||||||
