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  1. #1
    Mid
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    Thailand : Export shock: Trade deficit hits $675 mln

    Export shock: Trade deficit hits $675 mln

    Thai exports grew 15.5 per cent in August, the slowest performance this year, while imports were up 26.9 per cent, leaving the kingdom with a $675 million trade deficit, the Bank of Thailand said Tuesday.

    The value of Thailand's exports totaled $15.79 billion, up 15.5 per cent from August 2007, the central bank said. The rise was lower than July's 44-per-cent jump.

    The export slowdown was led by declines in rice shipments and prices while rubber exports also dropped in volume, the bank said.

    Thailand, the world's leading rice exporter, enjoyed a trade windfall in June and July this year when rice prices soared on the world market.

    But world rice prices declined in August, and Thai rice exports, deemed overpriced because of a domestic price-support scheme, have faltered.

    The value of Thailand's imports in August totaled $16.46 billion. (dpa)

    bangkokpost.com

  2. #2
    Mid
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    Thai economy slows in August for first time in 2008

    BANGKOK, Sept 30 (TNA) - The Thai economy in August became sluggish for the first time this year due to the sub-prime mortgage losses in the United States, which erupted in the second quarter and later affected economies in Europe and many other countries worldwide, a senior Bank of Thailand (BoT) official said Tuesday.

    Titanun Malikamas, senior director of BoT's Domestic Economy Department, said Thailand's exports in August this year grew at a slower pace -- only 15.5 per cent -- compared to 43.9 per cent growth in July.

    Export growth to the US -- Thailand's main customer -- declined in August to 6.3 from 20 per cent year-on-year, and that of Europe to 6.2 from 16 per cent.

    Thai exports to new markets among members of the Association of Southeast Asian Nations (ASEAN) plunged to 14 from 68 per cent, to China declined to 1.4 from 37.2 per cent and Taiwan contracted 8 per cent from 5.5 per cent.

    Thailand's business confidence index in August grew at a slower pace at 40.7 from 41.5 as businesses became more cautious about the local economy as well as on concerns that purchase orders from overseas would fall.

    Tourism, the country's largest revenue earner in the service sector, expanded at a reduced pace, 0.2 per cent, due to the closure of several airports, especially Phuket which received the impact of Peoples Alliance for Democracy (PAD) demonstrators, said Mr. Titanun.

    In October the BoT will review its projections for 2008 and 2009 due to varied external factors which have have considerable influence on the Thai economy recently. (TNA)

    enews.mcot.net

  3. #3
    I am in Jail

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    Like everywhere else the house of cards has a few problems. Thailand is economically and politically a shaky place so there is no way to predict things around here.

  4. #4
    I am in Jail
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    that should put pressure on the THB soon if this deficit trends continue,

  5. #5
    Mid
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    Thai Deputy PM downplays concerns US financial crisis impact on exports

    BANGKOK, Oct 1 (TNA) - Thailand's Deputy Prime Minister Olarn Chaipravat on Wednesday downplayed mounting concern over the potential impact of the United States financial crisis on Thailand's exports, saying that most of Thailand's export destinations are in Asia, the Middle East, and in the country's immediate neighbours.

    He said that some 50-60 per cent of Thailand's exports, particularly of farm products, had not been shipped to the countries affected by the US financial meltdown.

    But he conceded the crisis had unavoidably affected the Asian economy.

    So, he sees a need for Asian countries to accelerate trade talks interdependently, in order to strengthen and stabilise regional trade.

    The deputy premier said Thailand will attempt to turn the global financial crisis into an opportunity by encouraging mutual trade activities in Asia.

    The Thai government will propose to neighbouring countries the coordination of financial ties, building of a full-fledged financial community in Asia, and long-term investment cooperation.

    In addition, Thailand's government will attempt to promote mutual long-term borrowing among Asian countries since the existing global financial center had weakened and a base in Asia needed to be found, he said. (TNA)

    enews.mcot.net


    Dear DPM ,

    with regard to ....
    most of Thailand's export destinations are in Asia, the Middle East, and in the country's immediate neighbours.
    what about ........
    Thai exports to new markets among members of the Association of Southeast Asian Nations (ASEAN) plunged to 14 from 68 per cent, to China declined to 1.4 from 37.2 per cent and Taiwan contracted 8 per cent from 5.5 per cent.
    regards

    mid

  6. #6
    bkkandrew
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    ^Don't ask them to think Mid. It could be disasterous!

  7. #7
    ding ding ding
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    Quote Originally Posted by Mid
    He said that some 50-60 per cent of Thailand's exports, particularly of farm products, had not been shipped to the countries affected by the US financial meltdown.
    Oh!, so there are countries that will not be affected by the meltdown of the US economy.

    Somebody ought to tell me where is this magical land, so i can go and live there.

    Honestly, these guys are foking idiots, much better they say nothing than this face saving rubbish that they spew out.

  8. #8
    Mid
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    much better they say nothing
    I do believe I may have voiced that same opinion on occasion ..................

  9. #9
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    Quote Originally Posted by Mid
    But world rice prices declined in August, and Thai rice exports, deemed overpriced because of a domestic price-support scheme, have faltered.
    Quote Originally Posted by Mid
    He said that some 50-60 per cent of Thailand's exports, particularly of farm products, had not been shipped to the countries affected by the US financial meltdown.
    Hmmm......The US meltdown is blamed? Interesting conclusion!

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