resulting in 4.87% contraction in the first half of this year,
according to Commerce Ministry data.
Exports were US$ 18.16 billion during the month while
imports stood at $18.01 billion ,down 0.21% said
Somkiat Triratpan director of the Commerce Ministry’s
office of Trade Policy and Strategy.
The figures translated into a trade surplus of $150
million.
The lackustre export performance has prompted the
Finance Ministry to consider revising it economic growth
projection to 3% from 3.7% on Tuesday.
For the first half,the country shipped $106.86 billion
of
good and imported $103.38 billion ,down 7.91% from
the same period in 2014.The country recorded a trade
surplus of $3.47 billion in the six-monthy period.
The poor export performance was due to the slowing
global economy particularly in major trading partners
like the US ,the Europian Union,Japan and China.
In June,industrial exports dropped by 7.7% weighed
down by a 19.9% contraction of automobile and parts,
the country’s flagship product category.
Shipments of of pickup trucks tumble by 48.3% because of
model changes.
The ministry projected that automotive and parts exports
would
expand in the second half of the years as indicated by
the
increase in parts imports in June.
Farm exports dropped by 4.1% during the month,in the
line with the downward trend of global farm prices.
The value of rubber exports resumed growth for the first
time
in 18 months,at 4.4% although the price was still low.
Tapioca products,frozen and processed chicken and canned
and processed fruits saw growth in value at 24.6%,20.1%
and 6.3 respectively during the month.Meanwhile ,rice,
sugar and frozen and processed seafood still experienced
contractions.
In my viewpoint,since exports is the main source of
revenue
of the country ,we should analyze in depth which
industries
are to be promoted so that we can competitive with the
world market.
The government should develop special economic zones for
specific industries,such as biotechnology,automotive
parts,ect.
The government should also focus more on the promotion
of
upgrading products not only in term of quality but also
environmental friendliness and food safety.
And also should revise the border trade strategy to
cover
more big cities in neighbouring country.
The strategy should solve the short run problem we face
and also projected to serve for the long run future.
Sincerely Yours.
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