Thai shipments see return to growth in September

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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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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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