InfoQuest, (May 31, 2019) -- At the meeting to report to the director of the Office of the Department of International Promotion Trade on the implementation of the policy, Ms. Banjongjit Angsu-Singh, director general of the Department of International Trade Promotion, pointed out that, after a negative 1.9 percent growth in Thailand's exports in the first four months (January-April), the Ministry of Commerce has set an average 5 percent growth target for the remaining eight months of this year, so as to achieve the annual growth target of 3 percent.
Judging from the first four months, exports did not slide in every month. Instead, we can see export increase in some months. It is expected that the export situation in the rest of this year will not be as bad as that in the first four months, because exports in major markets are showing positive growth. The trade war between China and the United States has facilitated Thailand's exports to the United States. At the same time, secondary markets such as CLMV are still performing well. However, export situation in new markets including Australia, the Middle East and Russia may not be optimistic during this period.
When paying attention to products, we find that the export of agricultural products and agricultural byproducts is showing positive growth, while the overall export of industrial products is negative but with some exceptions such as electrical appliances and rubber products. When discussing with the relevant operators of the two industries, they are confident that the export situation will turn better in the next eight months.
"To sum up, we will try our best to achieve the export target of an average 5 percent growth for every month in the remaining eight months, so as to finally achieve the annual export growth target of 3 percent."
Earlier this year, the Ministry of Commerce had set an annual export growth target of 8 percent.
Source: InfoQuest, by Nisarat Wichiensri / Rachada / Wilawan, translated by Xinhua Silk Road
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