Post by account_disabled on Jan 2, 2024 23:30:41 GMT -6
"Commerce" analyzes the value of the Thai baht from the beginning of the year to August 2019. It was found that the baht strengthened by 2.2% while the currencies of trading partners and competitors all depreciated. But luckily, it still has a limited impact on exports. Even though income in baht will decrease It was revealed that many agricultural products still compete well in some markets, including rice, oil, corn, seafood, and fruit, because Thai products are of good quality. and has increased demand Advising exporters to insure against currency risks As a result, the baht is still stable and may strengthen. Ms. Pimchanok Wonkorphon, Director of the Office of Trade Policy and Strategy (TPO), revealed that the TOT has analyzed the exchange rates of important trading partners and of Thailand found that the average baht value from the beginning of the year until 30 August 2019 was at 31.39 baht per US dollar.
Appreciating 2.2% compared to the same period last year. and stronger than competing Email Data countries and important trading partners Most of which the currency is depreciating. Due to economic and political factors within the country. Including international conflicts such as South Korea depreciating 6.5%, European Union depreciating 6.3%, England depreciating 6.2%, China depreciating 5.3%, India depreciating 5.1%, Taiwan depreciating 4.0%, Malaysia depreciating 4.0%, and Vietnam depreciating 2.1%, etc. If looking at the export aspect Thailand still performs better than countries with weaker currencies. During the 7 months of 2019 (January - July), Thai exports decreased by 1.9%, South Korea decreased by 8.9%, England decreased by 3.5%, Taiwan decreased by 2.9%. and Malaysia decreased by 4.8%. Therefore, the appreciation of the baht even though it will reduce the income of operators But overall, the impact on exports is still limited. for agricultural products This is a group that is at risk of being affected by the appreciation of the currency.
It was found that although the export of some agricultural products has contracted. But exports to some markets are still expanding well. For example, rice exports for 7 months decreased by 18.5%, but exports to the United States increased by 13.9%, accounting for 13.8% of total rice exports. Exports of cassava products decreased by 6.9%, but exports to Japan increased by 3.2%, with a share of 10.6%. Exports of corn decreased by 20.7%, but exports to Vietnam increased by 29.2%, with a share of 23.2%. In addition, seafood exports Canned goods increased 2.3%, with exports to the United States and Japan increasing 16.5% and 10.4%, respectively, including fresh/frozen fruit exports. with the increasing popularity of Thai products As a result, exports expanded as high as 44.9%, reflecting the export of agricultural products, which also has other factors. that affect exports, such as product demand and product quality, etc., while many types of industrial products and lifestyle products are expanding well, such as cosmetics and skin care products.
Appreciating 2.2% compared to the same period last year. and stronger than competing Email Data countries and important trading partners Most of which the currency is depreciating. Due to economic and political factors within the country. Including international conflicts such as South Korea depreciating 6.5%, European Union depreciating 6.3%, England depreciating 6.2%, China depreciating 5.3%, India depreciating 5.1%, Taiwan depreciating 4.0%, Malaysia depreciating 4.0%, and Vietnam depreciating 2.1%, etc. If looking at the export aspect Thailand still performs better than countries with weaker currencies. During the 7 months of 2019 (January - July), Thai exports decreased by 1.9%, South Korea decreased by 8.9%, England decreased by 3.5%, Taiwan decreased by 2.9%. and Malaysia decreased by 4.8%. Therefore, the appreciation of the baht even though it will reduce the income of operators But overall, the impact on exports is still limited. for agricultural products This is a group that is at risk of being affected by the appreciation of the currency.
It was found that although the export of some agricultural products has contracted. But exports to some markets are still expanding well. For example, rice exports for 7 months decreased by 18.5%, but exports to the United States increased by 13.9%, accounting for 13.8% of total rice exports. Exports of cassava products decreased by 6.9%, but exports to Japan increased by 3.2%, with a share of 10.6%. Exports of corn decreased by 20.7%, but exports to Vietnam increased by 29.2%, with a share of 23.2%. In addition, seafood exports Canned goods increased 2.3%, with exports to the United States and Japan increasing 16.5% and 10.4%, respectively, including fresh/frozen fruit exports. with the increasing popularity of Thai products As a result, exports expanded as high as 44.9%, reflecting the export of agricultural products, which also has other factors. that affect exports, such as product demand and product quality, etc., while many types of industrial products and lifestyle products are expanding well, such as cosmetics and skin care products.