Thailand’s exports in March were estimated to have slipped further as escalating protests led trading partners and foreign buyers to delay purchases or scrap orders because of a lack of confidence in delivery.
The ongoing anti-government rallies have taken a toll on Thai exports, as certain foreign buyers have already cancelled their trips to Thailand for talks to buy Thai goods, according to Deputy Commerce Minister Alongkorn Ponlaboot.
Earlier, the government forecast that the country’s shipments would start recovering in March after figures contracted by 26.47% and 11.32% year-on-year in February and January respectively.
But Mr Alongkorn said preliminary reports for March showed the performance was worse than expected. (Bangkok Post)
Another blow to gullibility.
It’s astonishing to see the damages done by the “magic thinking”. A real disease.
The clowns believe their own fantasies. We all know that the “better than expected” february results were caused by… gold ! And gold only. It’s documented. I showed it in my article with charts.
I wrote about the february report :
Book it : in march, Thailand will, gently and with a smile, go back to the “minus 25 %” group.
Furthermore, many macro economic indicators in several countries… continued to deteriorate in march… Again, it’s documented.
But no ! Thanks to the magic thinking… march would be better ! Recovery ! March has to be better.
At that point it’s not hope anymore : it’s slimy idiocy. The stakes at the “Confidence Game” are very high. But the payout very… low. ;–)
Lower demand = less credit = lower exports = higher unemployment = lower consumption = lower tax collections etc.
It’s the deadly negative loop. Only fools can pretend to beat it with… “confidence”.
Rendez-vous around april 20 for the publication of the total for march… And then april 30 for the details published by the Bank Of Thailand.
Last point : it’s the first time (and I follow exports data since a long time) that we get an official warning BEFORE the schedule (release of the first report on the 20 of each month).
First data for exports from China in march.
China’s exports fell for a fifth month in March, adding urgency to government efforts to stimulate domestic demand to revive growth in the world’s third- biggest economy.
Overseas sales declined 17.1 percent to $90.29 billion from a year earlier, the state-run Xinhua News Agency reported, citing customs data. Imports dropped 25.1 percent, leaving a trade surplus of $18.56 billion. (Bloomberg)