Mr. Yanyong Phuangrach, Under Secretary of Ministry of Commerce revealed that in the first 7 months of this year (Jan. - July), Thailand's export value is 136,499 million USD (~4,113,842 million Baht), up 25.7 percent from the last year.
Export value in July was 21,521 million USD (~652,087 million Baht), up 38.3 percent over the same period of the last year. This number is a new high record of Thai exports value counting from March, which the export value was 21,258 million USD and be the 22nd months of export continuously expansion.
Export in agricultural products rose by 53.5%. The leading agricultural products are rice, rubber, and cassava products. Export in industrial products grew by 34.9%, which 15.6% was from electronics products and 16.9% was from automobile parts. Gems and jewelry was the export highlight of this year the export value increasing around 302%. While furniture and toys had decreasing in export value due to materials and labor shortages problems.
The export of Thailand are growth in all trade partner markets, including mature markets or market with enduring economic recession such as the U.S., Europe and Japan, which growth in 21.4%. For the potential markets likes China, Hong Kong, ASEAN, India, South Korea and Taiwan, Thai exports has grew around 47%. China market grew by 83.8 percent. In the emerging markets such as Russia and the CIS countries, Thai export value increased in 128.7% while Thai export value in Africa market grew 47.6%.
Thai export growth is based from competitiveness and fortune. Global market is still expanding and demand for Thai products is outstanding in the U.S., Europe, Japan, China, India and ASEAN markets. Thus, Thailand could continually rely on export with this trend. Trade in cross-border is also increase continually as well, the volume of July was 77,945 million, up 20.5% and gain surplus around 20,906 million baht.
Main Thai export products are still be agricultural products and foods which target 900,000 million Baht of the export value, increasing 12 percent from last year. Thai agriculture and foods exporter claims that they already have a lot of inquiries, especially in chicken and shrimps products for an incoming December with Christmas and New Year events. They also request Ministry of Commerce to continue an export promote event such as projects of Thailand Best Friend or other Road show activities.
However in the last four months of this year, overall of Thai exports, particularly in the U.S. and Europe; which take 20-22% of total exports; would be slow down because of the economic crisis in the U.S. and EU and currency appreciation. And some products such as toys, furniture, electronics and textiles will be in negative trends for a while. And slow down in other countries export such as, Asian countries including China South Korea, Malaysia or Taiwan would decrease Thailand’s export as well. However, exporting consumer goods still have a good trend.
The export of pure gold in July found that increases 3,919% or value 995 million USD which is not beyond expectations because economic fluctuation is high all over the globe, stock market is too risky. Thus gold market is an excellence choice for an investment. This high number of gold exports push total export value of the latest month grew to 38.3%. But after deduct the gold export contribution, export growth is reduced to only 25%, even through this number is already include pending orders during a disaster period in Japan.
Ministry of Commerce estimates growth of Thai export in average all over the year in term of USD as 15% while research center of TMB predicts 13% and research center of SCB predicts 22%.
Reference: Bangkok Biznews, August 2554
Bangkok Post, 26 August 2554