Exports : slowdown in august, and higher trade deficit

I wrote on september 16 :

Those figures (oil imports) give us already an hint about the trade balance for august : it’s going to be bad, after poor performances in july.

It’s good to be good… 😉

The Commerce Ministry published friday the first datas about exports/imports for august.

Thailand’s export value for August 2008 went up 14.9 percent from last year to 15.89 billion U.S. dollars, which means the growth rate slowed from above 20 percent in the previous months. Meanwhile, imports rose 26 percent to 16.7 billion dollars. As a result, the country posted a trade deficit of 782 million dollars in August. (TOC)

Therefore the trade deficit since january reaches 2,88 billions USD. And it’s going to get worse. Exports will suffer because of the global environment.

In july, exports reached 16,78 billions (historic high).

5 Responses to “Exports : slowdown in august, and higher trade deficit”


  1. 1 fall 20 September 2008 at 3:20 am

    Fully agree that Thai export suffer from global environment.
    Does anyone have current % of export to GDP?

    By the way, Air Alitalia case and Thai Airways would be interesting for comparison on what to come.

  2. 2 Halfaboy 20 September 2008 at 6:05 am

    The import figures are this month affected by the expansion of fuel products (by 44.2%) following the oil price hike. Also the import of capital goods increased only by 6.1 percent because of a delay in investment.

    However, increasing investments this and following months (by i.e. less political turmoil) combined with decreasing oil prices could have a substantial impact on import figures in the next period i.e. more balance between im- and export.

  3. 3 ThaiCrisis 20 September 2008 at 6:32 am

    Listen… it has been months, even years (since the beginning of the political crisis end 2005) that people tell us : “it’s going to get better, when the political turmoil will ease” etc.

    The coup, the referendum, the december’s elections, my mother’s birthday… You name it.

    Every time it’s the same crap, over and over

    And every time, it doesn’t work. The miracle is “postponed”.

    Here are 2 points that should be your compass, and your only compass :

    -the local political crisis will continue

    -we don’t want to see it, it’s dirty, it’s scary, but a freaking “economic slowdown”, global, has started.

    Therefore, the equation is rather simple : shit local + shit global = forget any grand idea of “recovery”, “growth”, “mega projects” and all the red herrings politicians are using.

    Sorry for the bad language, but I’m really fed up with the “tomorrow will be better” crowd.

    It’s going to get worse. There is no maybe, might be, if… it’s a certainty.

    I think any people with common sense and watching what’s going on in the US should agreee.

    What we’re living since 10 days goes far beyond sanity (and for that matter far beyond the little Thailand we love).

  4. 4 Bedwyr 20 September 2008 at 10:24 am

    TC, you miss the point, which is that:

    1. Politicians of any stripe will say whatever the occasion demands. If it keeps the masses quiet and compliant, then that is all that is important.

    2. Ref the microphone syndrome previously mentioned. If you stick a microphone in a Thai face then it is like pressing a horse-shit button. Say whatever you like today because tomorrow, nobody will even remember.

    3. The reason they keep getting away with it is that nobody holds people accountable for anything in Thailand, starting at the very top with the ‘Royal’ Thai police force.

    4. Thais have a wee short span of attention so anything that isn’t in the past week will be forgotten, it is all a part of the game. Thailand is the land of the 9-day wonder, and this applies to the police, the government, the army, the media and the people.

    Even dogs learn from experience and will bite you if you steal their food too often. But Thais never learn from experience.

    So almost any comment on the Thai side of the looking glass is equivalent. Everything gets forgotten on the 10th day anyway.

    Bedwyr

  5. 5 ThaiCrisis 20 September 2008 at 7:10 pm

    Follow up : we have the draft for the Big Bailout…

    http://tinyurl.com/3pypj8

    It’s nothing less than dictatorship. Financial dictatorship. It’s a Coup d’Etat.

    Look a the section 8 :

    Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

    It’s unbelievable. They are defecating on the US Constitution.

    And the worst : the stupid Congress is going to vote it.

    And the worst of the worst : this law won’t solve the problem. It will only be used to save Paulson’s friends.


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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