Thailand's exports slowed slightly in August due to the closure of some factories

According to a Thai media report on September 24, the Thai Ministry of Commerce pointed out that exports in August 2021 increased by 8.
93%.
Due to the closure of some factories affected by the new crown pneumonia epidemic, exports have slowed slightly compared with the previous month
.
The total export volume from January to August increased by 15.
25%, and it is expected that the annual growth rate will definitely exceed the 4% target
.


The country’s Deputy Prime Minister and Minister of Commerce Zhu Lin stated on the 24th on the overall export situation in August 2021 that the export trade volume in August was 21,976.
23 million US dollars, an increase of 8.
93%, but it was slightly slower than July 2021, mainly due to the new crown pneumonia.
The epidemic has adopted blockade measures to control the impact of the spread of the virus, causing some factories to close, and the logistics and transportation system has problems with cross-government and cross-border transportation, but overall it can be regarded as doing well
.
From January to August of 2021, the total export trade volume was 1766.
9 billion 61.
71 million U.
S.
dollars, an increase of 15.
25%, which is still higher than the set target of 4% growth
.


  The import trade volume in August was 23,191,890,000 US dollars, an increase of 47.
92%, most of which were imported raw materials, and the ratio of raw materials imports accounted for 65.
73%, but this is beneficial to future exports, because in terms of exports, raw materials are imported for production
.
The total import trade volume from January to August was 175,554.
7 million U.
S.
dollars, an increase of 30.
97%, and the trade surplus was 1.
4696 million U.
S.
dollars
.


  Zhu Lin said that the export growth was mainly due to the 23.
6% increase in exports of agricultural products and agro-industrial products.
If the products are classified in depth, it is found that rubber products have increased by 98.
8% for 11 consecutive months; fresh fruits, refrigerated fruits, frozen fruits, and fruit processing Product growth was 84.
8%, 5 consecutive months of growth; palm oil increased 51.
0%, 6 consecutive months of growth; cassava products increased 48.
4%, 10 consecutive months of growth; rice increased 25.
4%, the first growth in 8 months; feed growth of 17.
3 %, increasing for 24 consecutive months
.


  If only looking at agricultural products, it has increased by 45.
5%, and rubber has increased by 98.
8%, almost reaching the level of 100%.

.
Fruits grew by 84.
8%.
In terms of various fruits, rambutan, which has never been a bright spot, grew by 431%, durian by 315.
48%, longan, which was worrying about spending last season, also grew by 102.
67%, and mangosteen grew by 44.
16%
.
As for rice exports, because the Thai baht is strong and unable to compete with Vietnam and India, the data in the first 7 months are not very good.
However, when the Thai baht weakened and the global economy improved, the demand for rice increased.
In August, rice exports increased by 25.
44%.
This shows that exports before the end of the year are showing good signs
.


  Industrial products increased by 3.
3%.
The main export products such as automobiles and auto parts increased by 17.
8%, motorcycles increased by 44.
3%, computers and parts increased by 10.
5%, and jewelry increased by 35.
7%
.


  In terms of export markets, it is found that almost all markets are growing.
For example, the US market has grown by 16.
2%, the Chinese market has grown by 32.
3%, the Japanese market has grown by 10%, the ASEAN market has grown by 15.
2%, the EU market has grown by 16.
1%, and the Indian market has grown by 44.
2.
%
.
However, Australia, the United Kingdom and the CLMV market experienced negative growth
.


  Zhu Lin said that in terms of factors supporting the growth of exports in August, the Ministry of Commerce continued to resolve various export trade issues and the recovery of the global economy
.
UNCTAD estimates that it will have the fastest growth in 50 years, with the United States, China, Japan, and the European Union growing at a greater rate
.
The World Purchasing Managers Index (PMI) has exceeded the level of 50 for 14 consecutive months, which means that it is ready to purchase at least from Thailand.
Coupled with the depreciation of the Thai baht, Thailand has a greater competitive advantage in price and can sell more products
.


  For the remainder of this year, the Ministry of Commerce will continue to cooperate with private companies to promote exports and bring more revenue to the country
.
The impact of the lockdown measures on the manufacturing industry is expected to improve by the end of the year, and the annual export will definitely exceed the 4% target.

.
As for whether it can reach the double digits expected by private enterprises, it is the best to do it, and he believes it can be done
.