Thailand outshines everyone in the Asia region, registering 46.3% growth in their Jun export, despite the country's political unrest. This put them ahead of China (+43.9%), Taiwan (34.1%), South Korea (30.1%), Singapore (28.3%) and Vietnam (26.7%). Guess we have to accept that paying top dollar to the government doesn't necessarily produce top performance.
http://www.bangkokpost.com/business/economics/187288/june-exports-hit-record
June exports hit record
Growth target lifted to 19% for year
* Published: 22/07/2010 at 12:00 AM
* Newspaper section: Business
Encouraged by the record-high $18.04 billion worth of exports in June, the Commerce Ministry has increased its export growth target this year to 19% from 14% earlier, according to minister Porntiva Nakasai.
The US dollar value of Thai exports in June rose by 46.3% year-on-year, thanks to exceptional growth in agricultural products and industrial goods. The new forecast for the year is $183 billion, compared with a previous projection at $173.8 billion.
Thailand imported $15.72 billion worth of goods in June or the growth of 37.9%, for a trade surplus of $2.32 billion, up 148.73% from a year earlier.
For the first half of 2010, exports totalled $93.07 billion, up 36.6% year-on-year. Imports rose 51.7% to $86.69 billion for a surplus of $6.38 billion, down by 41.9% year-on-year.
The country exported $2.897 billion worth of farm products in June, up 33.3%, even though rice volume fell 20.6% to 721,389 tonnes and in value by 21% to $408 million.
Exports of industrial goods in June were worth $12.33 billion, up 52.6% on growth in electrical appliances at 48%, electronic items (35.5%), automobiles (92.5%), jewellery (191.1%) and gold (534.6%).
Exports to all markets rose in June with shipments to Asean countries up 51.2% as the country continued to benefit from tariff reductions under the Asean Free Trade Area (Afta) pact.
Exports to all countries covered by free trade agreements totalled $9.285 billion in June. Tariff benefit utilisation was highest for China at $1.51 billion, up 324% year-on-year, followed by Asean countries at $1.41 billion, up 63.7%.
According to a research report by HSBC, the strong growth in June was an affirmation of the resilience of the Thai economy overall and its exports sector in particular, despite the April-May political conflict.
Aat Pisanwanich, director of Center for International Trade Studies at the University of the Thai Chamber of Commerce, said 19% growth was achievable but the country had to monitor external risks, especially in Europe.
He said growth was being driven from favourable economic conditions in Asian countries while Thailand itself did not have economic problems. However, the growth was high, as the figures were compared with the low export figures last year.
Thailand's export growth in June was the highest in the region, followed by China at 43.9%, Taiwan 34.1%, South Korea 30.1%, Singapore 28.3%and Vietnam 26.7%.
http://www.bangkokpost.com/business/economics/187288/june-exports-hit-record
June exports hit record
Growth target lifted to 19% for year
* Published: 22/07/2010 at 12:00 AM
* Newspaper section: Business
Encouraged by the record-high $18.04 billion worth of exports in June, the Commerce Ministry has increased its export growth target this year to 19% from 14% earlier, according to minister Porntiva Nakasai.
The US dollar value of Thai exports in June rose by 46.3% year-on-year, thanks to exceptional growth in agricultural products and industrial goods. The new forecast for the year is $183 billion, compared with a previous projection at $173.8 billion.
Thailand imported $15.72 billion worth of goods in June or the growth of 37.9%, for a trade surplus of $2.32 billion, up 148.73% from a year earlier.
For the first half of 2010, exports totalled $93.07 billion, up 36.6% year-on-year. Imports rose 51.7% to $86.69 billion for a surplus of $6.38 billion, down by 41.9% year-on-year.
The country exported $2.897 billion worth of farm products in June, up 33.3%, even though rice volume fell 20.6% to 721,389 tonnes and in value by 21% to $408 million.
Exports of industrial goods in June were worth $12.33 billion, up 52.6% on growth in electrical appliances at 48%, electronic items (35.5%), automobiles (92.5%), jewellery (191.1%) and gold (534.6%).
Exports to all markets rose in June with shipments to Asean countries up 51.2% as the country continued to benefit from tariff reductions under the Asean Free Trade Area (Afta) pact.
Exports to all countries covered by free trade agreements totalled $9.285 billion in June. Tariff benefit utilisation was highest for China at $1.51 billion, up 324% year-on-year, followed by Asean countries at $1.41 billion, up 63.7%.
According to a research report by HSBC, the strong growth in June was an affirmation of the resilience of the Thai economy overall and its exports sector in particular, despite the April-May political conflict.
Aat Pisanwanich, director of Center for International Trade Studies at the University of the Thai Chamber of Commerce, said 19% growth was achievable but the country had to monitor external risks, especially in Europe.
He said growth was being driven from favourable economic conditions in Asian countries while Thailand itself did not have economic problems. However, the growth was high, as the figures were compared with the low export figures last year.
Thailand's export growth in June was the highest in the region, followed by China at 43.9%, Taiwan 34.1%, South Korea 30.1%, Singapore 28.3%and Vietnam 26.7%.
