Thai exports in July Expanded for the 5th consecutive month, growing 20.27%, moving forward with strategy The “production market” promotes exports for the rest of the year.
Ministry of Commerce Thailand’s International Trade Report, July 2021, found that exports were valued at US$ 22.65 billion, an increase of 20.27 percent compared to the same period last year. If goods related to oil, gold and munitions are deducted, exports in July will grow 25.38%, while imports in July are worth US$22.467 million, up 45.94%, resulting in a trade surplus of US$183 million.
Overall, the first 7 months of this year (Jan.-Jul. 64) Thai exports with a total value of 154,985 million US dollars, an increase of 16.20%, imports with a value of 152,362 million US dollars, an increase of 28.73%, resulting in the first 7 months of this year, Thailand has a trade surplus. $2,622 million
Mr. Jurin Laksanawisit, Deputy Prime Minister and the Minister of Commerce said that Thai exports in July Growth for the fifth consecutive month as a result of accelerating the resolution of obstacles related to exports and economic recovery factors of key trading partners especially the US economy continually recovering While the easing of lockdown measures in the European Union, the service sector has recovered. This drives the European economy to grow faster. In addition, the depreciation of the baht is another factor supporting the Thai export sector.
Mr. Jurin admits that this round of the covid outbreak May have an impact on exports, especially in August and September onwards. because the end of July Entering a lockdown situation may affect the manufacturing sector This has already begun, for example, some fruit or export factories have to close. The inability to produce continuously may have an impact on exports. including the situation of COVID in neighboring countries and some countries Things that we have to export have started to get stuck during border crossings, such as Thai border checkpoints to Laos, Vietnam and to China. There are problems at certain times, sometimes having to solve problems on the job site many times. Including exporting fruits and some products, or even neighboring Malaysia is infected with covids and is still in a situation that has to be strictly solving the problem. affect the export figures. Raw latex from Thailand to Malaysia affects the price of Thai rubber. Only raw latex prices, but cup lumps of rubber, the price is still very good, better than the insurance income. Affects export numbers because we export latex to Malaysia as our biggest market at the moment. We will continue to see how much impact it has. must speed up the solution to prevent the production sector from getting stuck In terms of resolving obstacles to exports, and the Ministry of Commerce will continue to solve problems on the job site for the best that has been done in the past, it has been done very well. The private sector is very alert. We respond and move on.
As for the container problem, Mr. Jurin said that the containers in terms of numbers have reached equilibrium. The number of imported cabinets is still higher than the number of cabinets we export about 120,000 BTU, but in some periods there may be a shortage due to the imbalance of input and output. Some periods are more in, less out. Some periods require a lot of containers but less traffic. The big problem is that the freight is very expensive. But it is expensive all over the world and some products are affected, such as rice because some times the freight is more expensive than the price of rice in the container. Make our rice prices in the world market feel expensive and can’t compete with some competitors. Today is getting better because of 2 factors. Factor 1, although the freight has not been reduced, but we will group together such as SMEs come together to rent boats or rent boat space together to reduce costs. Or he is asking the Rice Exporters Association to coordinate with the Department of Foreign Trade to join hands to gather the demand for boat space and charter boats and factor 2, the depreciation of the baht makes us able to compete. therefore expected to be better
during the rest of this year Ministry of Commerce also operates under the strategy “Production Leading Market” ready to negotiate to open up new potential markets such as the Middle East, Africa, Latin America, and coordinate Thai commercial ambassadors in China Accelerate the problem of exporting fruit products Recently, China has unlocked durian products. and longan to Thailand which will help agricultural products in the country There is a channel for distributing products and it will benefit Thai farmers. and confirmed that There is no need to adjust the export target for the whole year, which is set at 4%, although the first 7 months of this year Achieved more than 4 times the target or 16.2% by sticking to the principle of doing the best.
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