Thai shipments see return to growth in September


Thai shipments in September bounced back to positive growth for the first time after declining for two months, easing fears of export contraction during the whole year, according to the Commerce Ministry’s report.
September exports grew 3.19 per cent to US$19.91 billion (Bt1.84 trillion) while imports saw a sharp increase by 14.42 per cent to $21.71 billion (Bt1.91 trillion), causing a trade deficit of $1.79 billion (Bt78.42 billion).

“Thai shipments could see positive growth in the remaining three months, which will prevent a contraction in Thai shipments this year. However, among worrying factors are uncertainty in global economy recovery, in particular the European Union, China, and Japan, as well as baht and gold price fluctuation,” said Nuntawan Sakuntanaga, director-general at the International Trade Promotion Department. She said a clearer sign of economic recovery in the United States is the only positive factor encouraging Thai shipments.

Exports in the first nine months of 2014 were still down 0.85 per cent year on year to $1170.45 billion (Bt5.47 trillion). The ministry now accepts that the previous growth projection of 3.5 per cent is unattainable, but there could be some growth, of at least one per cent or less. For full-year growth of 0-0.9 per cent, exports in the last quarter will need to average at least $19.5 billion.

In the first nine months, imports grew by 10 per cent to $171.97 billion (Bt5.58 billion), leading to a trade deficit of $1.51 billion (Bt111.85 billion). Imports grew for the first time in six months, reflecting higher demand in the manufacturing sectors as well as from higher demand for fuel imports from the lower oil price in the global market.

Last month, exports of agro-industrial products rose by 2.8 per cent, but industrial sector exports dropped by 0.4 per cent, and other products jumped 17 per cent.

Source : The Nation | October 29, 2014
Thomas D’Innocenzi

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Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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