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A Singaporean's guide to living in Thailand
- Thread starter Leongsam
- Start date
ECONOMY
Ailing economy
Exports drop for ninth month
Imports also tumblein lacklustre economy
The Commerce Ministry yesterday reported shipments fell by 5.51% year-on-year last month to a value of US$18.8 billion, easing slightly from August's sharp 6.69% fall, the second worst this year after a 7.87% decline in June, which itself was the biggest drop since an 8.15% decline in December 2011.
For the first nine months of this year, exports dropped by 4.98% to $162 billion. September imports plunged 26.2% year-on-year to a value of $21.7 billion, resulting in a nine-month fall to $154 billion, down 10.5%.
Agricultural and agribusiness products contracted by 9.9% year-on-year last month to $2.65 billion.
Industrial goods dropped by 1.9% to $15.1 billion despite shipments of automotive and parts rising by 20.6%, driven by a 144% surge in passenger car exports.
Somkiat Triratpan, director of the Office of Trade Policy and Strategy, attributed the fall in exports to the weak global economy and soft demand in major trade partners, particularly Japan (down by 20.6%), France (down 18.1%), China (down 17.9%), South Korea (down 15.9%), Britain (down 10.1%) and the US (down 3.6%).
Overall crude oil prices also remained low, declining by 47.5% year-on-year in the first nine months, while global farm prices also dropped sharply, especially for rice, rubber and sugar. Export prices of rice dropped by 9.5%, with rubber down 19.8% and sugar 8.2%.
Mr Somkiat insisted Thailand's export contraction was low compared with the performance of other countries such as Australia (-21.8%), France (-14.3%), Singapore (-14%), Japan (-9.2%), South Korea (-6.4%) and the US (-6.1%).
The Commerce Ministry is still maintaining forecast for exports to contract by 3% this year.
"Export contraction is likely to stay within a range of 3.5% to 4% if we come up with export values of $19 billion baht a month for the final three months of the year," Mr Somkiat said.
"The contraction will widen to 5% if we achieve only $18 billion a month."
Wallop Vitanakorn, vice-president of Thai National Shippers' Council, said last month's lower contraction in exports was due primarily to a surge in automotive shipments. With the global economy remaining far from a recovery and Thailand's economy still weak, the country's exports are likely to fall by at least 5% this year, he said.
Santitarn Sathirathai, the Singapore-based head of economic research for Southeast Asia and India at Credit Suisse, said Thailand's growth would remain lacklustre albeit more resilient than expected, as tourism numbers may provide some upside risk to its 2015 GDP forecast of 2% growth.
Thailand's strong current account position means the baht will probably outperform its peers unless the Bank of Thailand takes more policy actions including cutting rates, he said.
"We continue to see room for another rate cut, but the timing remains uncertain. It seems to us the Bank of Thailand may wish to see how domestic demand will respond to various stimuli introduced by the government before adding another rate cut," Mr Santitarn said.
"We still think headwinds to exports will be sufficient to cap overall GDP growth in the fourth quarter, which would prompt the central bank to cut the rate by another 25 basis points by year-end.
"However, a December move looks more likely than the upcoming meeting on Nov 4."
Sarun Sunansathaporn, an economist in Bank of Ayudhya's research department, said September's export contraction of 5.5% was better than the projected 8.3%.
"Exports in baht terms were positive, as they improved to growth of 5.5% on the back of the baht's depreciation," he said.
However, Mr Sarun said last month's 26.2% import decline was a big surprise.
"This was even worse than economists' bearish forecast of a contraction of between 13% and 23.9%," he said.
Thailand's trade account surplus widened to $2.8 billion, marking a five-month streak of surpluses, Mr Sarun said, adding that prospects for domestic demand and exports remained tepid.
Ailing economy
Exports drop for ninth month
Imports also tumblein lacklustre economy
- Bangkok Post Published: 27/10/2015 at 03:26 AM
Exports fell for the ninth month, imports plummeted, and agriculture business is off 10% in a year - so the PM asked Thai and foreign CEOs for advice.
The Commerce Ministry yesterday reported shipments fell by 5.51% year-on-year last month to a value of US$18.8 billion, easing slightly from August's sharp 6.69% fall, the second worst this year after a 7.87% decline in June, which itself was the biggest drop since an 8.15% decline in December 2011.
For the first nine months of this year, exports dropped by 4.98% to $162 billion. September imports plunged 26.2% year-on-year to a value of $21.7 billion, resulting in a nine-month fall to $154 billion, down 10.5%.
Agricultural and agribusiness products contracted by 9.9% year-on-year last month to $2.65 billion.
Industrial goods dropped by 1.9% to $15.1 billion despite shipments of automotive and parts rising by 20.6%, driven by a 144% surge in passenger car exports.
Somkiat Triratpan, director of the Office of Trade Policy and Strategy, attributed the fall in exports to the weak global economy and soft demand in major trade partners, particularly Japan (down by 20.6%), France (down 18.1%), China (down 17.9%), South Korea (down 15.9%), Britain (down 10.1%) and the US (down 3.6%).
Overall crude oil prices also remained low, declining by 47.5% year-on-year in the first nine months, while global farm prices also dropped sharply, especially for rice, rubber and sugar. Export prices of rice dropped by 9.5%, with rubber down 19.8% and sugar 8.2%.
Mr Somkiat insisted Thailand's export contraction was low compared with the performance of other countries such as Australia (-21.8%), France (-14.3%), Singapore (-14%), Japan (-9.2%), South Korea (-6.4%) and the US (-6.1%).
The Commerce Ministry is still maintaining forecast for exports to contract by 3% this year.
"Export contraction is likely to stay within a range of 3.5% to 4% if we come up with export values of $19 billion baht a month for the final three months of the year," Mr Somkiat said.
"The contraction will widen to 5% if we achieve only $18 billion a month."
Wallop Vitanakorn, vice-president of Thai National Shippers' Council, said last month's lower contraction in exports was due primarily to a surge in automotive shipments. With the global economy remaining far from a recovery and Thailand's economy still weak, the country's exports are likely to fall by at least 5% this year, he said.
Santitarn Sathirathai, the Singapore-based head of economic research for Southeast Asia and India at Credit Suisse, said Thailand's growth would remain lacklustre albeit more resilient than expected, as tourism numbers may provide some upside risk to its 2015 GDP forecast of 2% growth.
Thailand's strong current account position means the baht will probably outperform its peers unless the Bank of Thailand takes more policy actions including cutting rates, he said.
"We continue to see room for another rate cut, but the timing remains uncertain. It seems to us the Bank of Thailand may wish to see how domestic demand will respond to various stimuli introduced by the government before adding another rate cut," Mr Santitarn said.
"We still think headwinds to exports will be sufficient to cap overall GDP growth in the fourth quarter, which would prompt the central bank to cut the rate by another 25 basis points by year-end.
"However, a December move looks more likely than the upcoming meeting on Nov 4."
Sarun Sunansathaporn, an economist in Bank of Ayudhya's research department, said September's export contraction of 5.5% was better than the projected 8.3%.
"Exports in baht terms were positive, as they improved to growth of 5.5% on the back of the baht's depreciation," he said.
However, Mr Sarun said last month's 26.2% import decline was a big surprise.
"This was even worse than economists' bearish forecast of a contraction of between 13% and 23.9%," he said.
Thailand's trade account surplus widened to $2.8 billion, marking a five-month streak of surpluses, Mr Sarun said, adding that prospects for domestic demand and exports remained tepid.
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Colorful festival. Diff from some gory pics of vege festival other week 
Former prime minister Yingluck Shinawatra joins the annual Rub Bua (lotus receiving) Festival in Bang Phli district, Samut Prakan province. Participants throw lotus flowers into a boat carrying Luang Pho To, the main Buddha image of Bang Phli Yai temple.
Former prime minister Yingluck Shinawatra joins the annual Rub Bua (lotus receiving) Festival in Bang Phli district, Samut Prakan province. Participants throw lotus flowers into a boat carrying Luang Pho To, the main Buddha image of Bang Phli Yai temple.
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http://www.chiangraitimes.com/tour-bus-overturns-injuring-24-tourist-in-ratchaburi-province.html
Tour Bus Overturns Injuring 24 Tourist in Ratchaburi Province
A bus carrying tourists overturns and plunges into a roadside ditch in Ratchaburi’s Photharam (Photo by Saichon Srinuanjan)
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RATCHABURI – Twenty-two people were injured when their tour bus overturned in a ditch in Ratchaburi’s Photharam district on Thursday afternoon, there were 34 people on board.
Pol Lt Pradit Khongprem, a duty officer at Photharam police station said the coach was returning from Damnoen Saduak floating market when the driver lost control while overtaking another vehicle, careering into the ditch.
Bystanders look at the overturned tour bus in a roadside ditch as rescue workers help tourists (Photo by Saichon Srinuanchan)
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Police and rescue workers found many tourists trapped in the overturned coach but all were rescued.
The injured passengers and the injured Thai driver were rushed to Photharam Hospital.
Vorachot Kraisri, the driver of another tour bus, told police there were four coaches taking over 100 Sri Lankans to the floating market in Damnoen Saduak district.
The buses were heading to Nakhon Pathom when the one driven by Boonma Nachaikham crashed.
Mr Boonma, 38, tried to overtake a 10-wheeled truck and veered off the road, said Mr Vorachot, whose bus was following immediately behind.
Mr Vorachot stopped to assist victims and alert police.
Ratchaburi Governor Surapol Sawaengsak rushed to the scene and ordered officials to take good care of the injured tourists. He arranged vans to take the unhurt tourists to their destination.
By Saichon Srinuanjan
Tour Bus Overturns Injuring 24 Tourist in Ratchaburi Province
A bus carrying tourists overturns and plunges into a roadside ditch in Ratchaburi’s Photharam (Photo by Saichon Srinuanjan).
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RATCHABURI – Twenty-two people were injured when their tour bus overturned in a ditch in Ratchaburi’s Photharam district on Thursday afternoon, there were 34 people on board.
Pol Lt Pradit Khongprem, a duty officer at Photharam police station said the coach was returning from Damnoen Saduak floating market when the driver lost control while overtaking another vehicle, careering into the ditch.
Bystanders look at the overturned tour bus in a roadside ditch as rescue workers help tourists (Photo by Saichon Srinuanchan).
Police and rescue workers found many tourists trapped in the overturned coach but all were rescued.
The injured passengers and the injured Thai driver were rushed to Photharam Hospital.
Vorachot Kraisri, the driver of another tour bus, told police there were four coaches taking over 100 Sri Lankans to the floating market in Damnoen Saduak district.
The buses were heading to Nakhon Pathom when the one driven by Boonma Nachaikham crashed.
Mr Boonma, 38, tried to overtake a 10-wheeled truck and veered off the road, said Mr Vorachot, whose bus was following immediately behind.
Mr Vorachot stopped to assist victims and alert police.
Ratchaburi Governor Surapol Sawaengsak rushed to the scene and ordered officials to take good care of the injured tourists. He arranged vans to take the unhurt tourists to their destination.
By Saichon Srinuanjan
Slice of Thai tuna :p
Greenpeace activists stand inside a large mock-up of a canned tuna in front of the Thai Union headquarters in Bangkok on Oct 29. The protest was designed to challenge the company to change its practices, claiming they harm the environment. (AFP photo)
Greenpeace activists stand inside a large mock-up of a canned tuna in front of the Thai Union headquarters in Bangkok on Oct 29. The protest was designed to challenge the company to change its practices, claiming they harm the environment. (AFP photo)
Really missed Thailand. Went to SC Park Hotel's East Ocean Teochew Restaurant from airport
Peking duck
Duck meat used to do black pepper fry with chili
Tastes like beef really
and also minced duck meat with lettuce
Buddha jumps over the wall - if no pre-order then go to wait like 45 mins
Consists of - sea cucumber, sharks fins 3 types, fish maw 2 types half black chicken etc
Peking duck
Duck meat used to do black pepper fry with chili
Tastes like beef really
and also minced duck meat with lettuce
Buddha jumps over the wall - if no pre-order then go to wait like 45 mins
Consists of - sea cucumber, sharks fins 3 types, fish maw 2 types half black chicken etc
Shock to see such a big crowd in Suvarnabhunbi Airport at 4.45pm today. Took 45mins to clear.
I flew in on a weekday morning & faced the same crowded situation. Really surprised that it was so crowded because I thought tourists were avoiding Thailand.
I always fly business class on Thai International in order to avoid that congregation of peasant stock.
I don't think there is any discrimination of travel class in the immigration clearance area. You've got to be a president, royalty or superstar to be accorded VIP clearance.
Yes all business class passengers are accorded VIP clearance.
Took about 50 minutes to clear immigration. The queues might have been long but they had many immigration stations open to process incoming passengers.
I notice a few changes in immigration requirements since my last visit. I was asked to remove my glasses while they took my photo. I was also required to provide my handphone telephone number
Yes there is. Business and first class passengers have their own check in right at the cosy end of the departure hallway. It also has it's own immigration and security clearance counters and travelers are treated far more courteously. The security guy actually helped me pack my bag the last time I went through in June this year.
Money talks no matter where you are in the world but this is especially so in Asia.
May well be for departures, in many airports for well heeled. For arrivals, unless you got Apec priority card, you Q with rest of minions.
Seem to recall there's more than 1 arrival hall. On more than 1 occassion, I chanced on another arrival hall (due to some reno, and also beat PRC hordes)
Lion Air flight cancelled after passenger makes bomb joke
The Nation November 2, 2015 1:00 am
A Lion Air flight was abruptly cancelled yesterday afternoon after one of the passengers jokingly suggested that his carry-on bag might have contained explosives in his bid to attract a flight attendant, an ongoing police investigation revealed.
Pol Colonel Surachet Bandhit, superintendent of Don Muang Police Station, said yesterday the joke was made when a flight attendant was about to put the bag in the overhead bin.
"In line with safety procedures, the flight attendant decided to alert the captain. After that, the flight was cancelled, all passengers were evacuated, and the man who mentioned the explosives on the flight was handed over to investigators," Surachet said.
According to him, the man - identified as Pichit Boondaeng - told police that he just meant to tease the flight attendant as he wanted to woo her.
An explosive-ordnance-disposal team found no bombs inside Pichit's bag.
The 23-year-old suspect was charged with spreading false information that caused panic inside an aircraft. If convicted, he may face up to five years in jail and/or a maximum fine of Bt200,000.
Lion Air is also preparing to sue him for compensation because his action caused serious commercial damages as the flight could not provide services as scheduled.
The flight's route was from Don Mueang Airport to Hat Yai Airport.
The Nation November 2, 2015 1:00 am
A Lion Air flight was abruptly cancelled yesterday afternoon after one of the passengers jokingly suggested that his carry-on bag might have contained explosives in his bid to attract a flight attendant, an ongoing police investigation revealed.
Pol Colonel Surachet Bandhit, superintendent of Don Muang Police Station, said yesterday the joke was made when a flight attendant was about to put the bag in the overhead bin.
"In line with safety procedures, the flight attendant decided to alert the captain. After that, the flight was cancelled, all passengers were evacuated, and the man who mentioned the explosives on the flight was handed over to investigators," Surachet said.
According to him, the man - identified as Pichit Boondaeng - told police that he just meant to tease the flight attendant as he wanted to woo her.
An explosive-ordnance-disposal team found no bombs inside Pichit's bag.
The 23-year-old suspect was charged with spreading false information that caused panic inside an aircraft. If convicted, he may face up to five years in jail and/or a maximum fine of Bt200,000.
Lion Air is also preparing to sue him for compensation because his action caused serious commercial damages as the flight could not provide services as scheduled.
The flight's route was from Don Mueang Airport to Hat Yai Airport.
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