I know : I’m boring. And bored. I repeat the same things… But the events are boring too. No change.
The dollar value of Thai exports in May fell 26.6% from a year earlier to US$11.65 billion and was down 17% in local currency to 411.58 billion baht.
Agricultural and agro-industrial shipments fell 26.9% to $1.94 billion as customers delayed purchases and gained more price bargaining power amid rising competition, especially for rice, said Mr Siripol.
Rice shipments declined 15.9% to 735,048 tonnes valued at $406 million, down 38.1%. Rubber volume fell 19.6% to 169,162 tonnes worth $229 million, down 21.7%.
Imports slid 34.7% in May to $9.25 billion, producing a trade surplus of $2.4 billion. (Bangkok Post)
I wrote one month ago, after figures for april were published :
If exports stay at the same level in may… the % of change year on year would be -34 %. I expect a small rebound. In any case, we should keep the pace of a minus 25 % year on year.
And previously, about february :
Everything is simple. Only the suckers don’t want to see, don’t want to understand.
Book it : in march, Thailand will, gently and with a smile, go back to the “minus 25 %” group.
Where are the suckers ? The I-Want-To-Believe ? The clowns who live in RecoveryLand ? Their existence is tied to the Recovery, the Holy Grail.
But don’t forget : everything is fine. The Green Shoots Salad (or the “Rebound Soup” or the “Recovery Goulash”) is delicious. Abhisit is handsome. The recovery will come end 2009. Sure. The weather is nice. And please, don’t forget to take a loan and to buy a new condo. And a new car.
(The Bank Of Thailand will publish the details for exports on june 30).