Thai exports experience first decline in 19 months
Thailand’s exports in September defied analyst expectations, dropping for the first time in 19 months, according to data from the country’s commerce ministry.
A ship loaded with containers full of export goods destined for foreign markets (Photo: bangkokpost.com)
Bangkok (VNA) –Thailand’s exports in September defiedanalyst expectations, dropping for the first time in 19 months, accordingto data from the country’s commerce ministry.
Exports, a key driver of Thai growth, fell 5.2 percent inSeptember from a year earlier, compared with the median forecast for a 6.05percent rise in a Reuters poll.
In August, exports rose 6.68 percent over the same periodlast year.
The ministry blamed the export decline on impacts of the US-Chinatrade war and trade partners’ economic problems.
The country’s shipments to the US rose 1.2 percent inSeptember from a year earlier, while those to China slumped 14.1 percent.
Exports of cars and parts, computers and accessories fell 7.4percent compared to the same period last year while rubber products dropped 2.4percent, it said.
In September, Thailand’s imports increased 9.9 percent on anannual basis after surging 22.8 percent in August. That resulted in a tradesurplus of 490 million USD in September, compared with a forecast 1.61 billionUSD.
In January-September, the country’s exports rose 8.13 percent from a yearearlier while imports jumped 15.2 percent.
The commerce ministry said it still targets export growth of 8percent this year, after last year’s 9.9 percent rise.-VNA
The Tourism Authority of Thailand (TAT) and Expedia Group have signed an agreement on collaboration, aiming to reach a 20 percent growth in tourism income in secondary provinces by 2020.
The Thai economy continues to gain further traction from both domestic and external demand, the central bank of Thailand (BOT) said in its press release on economic and monetary conditions in August.
The Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce (UTCC) has forecast that up to 45 billion baht in cash flow will be in circulation during the Vegetarian Festival this year.
Thailand's global competitive rank this year has risen to 38 from 40 last year, according to the Global Competitiveness Index 4.0 by the World Economic Forum (WEF).
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
A ship loaded with containers full of export goods destined for foreign markets (Photo: bangkokpost.com) 
