Thai exports show growth in July

While global oil prices dampened exports of oil-related products, practical proactive export strategies are likely to balance negative impacts from the US-China trade dispute. In the first seven months of 2019, Thai exports contracted 1.9 percent.
Diversity of exports including agricultural and food products, lifestyle products related to tourism and rising industrial products appear likely to help Thai exports for the rest of 2019. Together with government stimulus packages in many countries, new export promotion schemes endorsed by a Joint Public and Private Consultative Committee on Commerce, would gradually boostThai exports in the fourth quarter of 2019.
Thai exports to most major trading partners markets, for example, US Japan Hong Kong, Taiwan, and China, include fresh, frozen, and processed fruits as well as automobiles. Exports to India remain robust but those to CLMV (Cambodia, Laos, Myanmar, and Vietnam) and ASEAN contracted because of oil and oil-related products.
Growth of agricultural and agro-industrial products returned to positive growth and stood at 1.4 per cent,” the ministry said. Top performers that still expanded favourably were fresh, frozen, and processed fruits (+26.1 per cent), rubber (+9.6 per cent), cassava products (+8.7 per cent), and fresh, frozen, and processed shrimps (+7.3 per cent).
Meanwhile, exports of some major products declined, for example, rice (-27.2 per cent), sugar (-25.4 per cent), and canned tuna (-13.6 per cent). In the first seven months of 2019, agricultural and agro-industrial products contracted 1.7 percent.

In contrast, industrial products remained positive for a second consecutive month. Top performers are gold (+406.9%), cosmetics, soaps, and skincare products (+17.0 per cent), and air-conditioners (+4.2 per cent). However, some industrial products decreased, for example, oil-related products (-14.2 per cent), computer and parts (-5.9%), automobiles and parts (-2.9 per cent). In the first seven months of 2019, industrial products contracted 1.4 percent.
Despite a variety of challenging factors in common with other export-oriented countries, many positive factors are likely to strengthen and improve Thai exports namely new rising -star products, the opportunity to substitute products subject to retaliatory measures in US and China markets, expansion of tourism related products, potential exports to new areas according to customized strategies, and new export promotion schemes underway endorsed by a Joint Public and Private Consultative Committee on Commerce. Last but not least, expansionary monetary policy would also diminish the baht-appreciation effect in the fourth quarter of the year 2019.