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2015 : Thai exports for the first 11 months contract about 5 percent

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  • 2015 : Thai exports for the first 11 months contract about 5 percent

    Thai exports for the first 11 months contract about 5 percent
    http://thailandchatter.com/showthrea...ll=1#post45112

  • #2
    Foreign investment plummets 78% in junta-ruled Thailand

    Foreign investment plummets 78% in junta-ruled Thailand
    2 hours ago

    BANGKOK (AFP) - Foreign investment in Thailand plummeted last year, official data showed, the latest sign that the kingdom's once-vibrant economy continues to falter under prolonged military rule.

    Total investment applied for by foreign companies between January and November 2015 plunged 78 per cent from a year earlier to 93.8 billion baht (S$3.71 billion), according to figures from Thailand's state-run Board of Investment (BoI) sent to AFP late Tuesday.

    The figures will do little to cheer junta leader Prayut Chan-o-cha, who seized power in a May 2014 coup vowing to restore stability but who has struggled to kickstart the country's lacklustre economy.

    After years of impressive growth, Thailand's economy is struggling, mired in high household debt, stuttering exports and low consumer confidence.

    It also faces stiff competition from increasingly attractive neighbours like Vietnam, Cambodia and Myanmar.

    Particularly worrying for Prime Minister Prayut is a significant drop off in investment from Japan - historically the largest investor in Thailand by far - which slumped 81 per cent.

    EU investment also plunged from 86.7 billion baht in 2014 to just 2 billion baht last year. Investment from the United States was also heavily down, while Chinese investment was only down slightly.

    Krystal Tan, an Asia economist with Capital Economics, said the trend was indicative of deeper fissures within the Thai economy, which was among the slowest growing in the region last year.

    "The 2015 (FDI) figures are very weak, indicating foreign investor confidence in the economy remains fragile," she told AFP.

    "More broadly, Thailand's economic competitiveness is on the decline," she added. "The country continues to face significant challenges on the political front that have negative repercussions for business and investor confidence."

    But Somprawin Manprasert, an economics professor at Chulalongkorn University, said the drop-off was down to new investment incentives, which became effective in 2015, favouring high-tech industries.

    "The current flow of FDI represents 'quality' investment rather than 'quantity,'" he told AFP. "All in all, this policy should help propel Thailand to the next stage of development."

    Thailand has historically been a top choice for investors in South-east Asia, offering liberal economic policies, a skilled workforce and a strategic location as the gateway to the greater Mekong region.

    But analysts say years of political instability, including two military coups, have hampered the country's economic potential - often referred to locally as the "lost decade".

    Earlier this month the World Bank forecast that Thailand's GDP growth rate would slip from 2.5 per cent in 2015 to just 2 per cent this year, by far the gloomiest regional prediction.

    Nearby Vietnam, on the other hand, reported a record number of foreign investment in 2015 and the fastest growth rate in five years at 6.68 per cent.

    straitstimes.com
    http://thailandchatter.com/showthrea...ll=1#post45112

    Comment


    • #3
      http://thediplomat.com/2016/01/thail...nal-standards/

      Told ya so. Thailand will sink further into the mire for a few years yet- even when 'democracy' is restored, it will be a pseudo democracy under a sham 'constitution'. Nobody will trust or believe in it, and my prognosis is that it will just be another short-lived constitution in the land of sham constitutions. What further social unrests and divisiveness that will unleash is yet to be determined, but the risk factor is High. SELL.

      There are plenty of good things happening in neighbouring and regional countries, plenty to keep the money boys pre-occupied. Believe me, they certainly won't miss this den of vipers. Thailand now has the 'status' of a has-been.

      Comment


      • #4
        Thailand : Foreign investment slumps 78 percent as economy stagnates

        Can Thai Junta Convince Investors It Knows What It's Doing?
        Chris Blake , Tony Jordan
        February 4, 2016

        • Military government working on country's 20th constitution
        • Foreign investment slumps 78 percent as economy stagnates
        Applications for foreign direct investment slumped 78 percent in the first 11 months of 2015. Exports have fallen for three straight years.


        A Thai military officer stands guard outside the Grand Palace in Bangkok
        Photographer: Brent Lewin/Bloombergnationwide pollPuangthong Pawakapanpolitical turmoilconstitutionPrayuth Chan-Ocha attends a birthday ceremony for Princess Maha Chakri Sirindhorn in 2015
        Photographer: Dario Pignatelli/Bloomberg

        The first draft was rejectedpick anotherYingluck Shinawatra arrives for an impeachment hearing in 2015
        Photographer: Dario Pignatelli/Bloomberg

        Opponents of military rule, such as a group known as the Red Shirts, may disagree. The Red Shirts backed Thaksin Shinawatra and his sister Yingluck, whose parties have won every open general election in the country since 2001. Both were ousted by coups.

        While Thaksin fled abroad to avoid a a jail term for corruption, his sister faces 10 years in prison over allegations she mismanaged a rice-subsidy program. The siblings say the charges are politically motivated.

        Since the coup, the junta has stepped up prosecutions of people accused of disrespecting the monarchy. Rights groups say the law can be used to target political opponents, with cases now heard in military courts that have meted out record sentences.

        economic hardshiprubber directly from farmers to boost prices.

        Food Stallsillegal vendorsThan Rittiphan
        Photographer: Brent Lewin/Bloomberg
        http://thailandchatter.com/showthrea...ll=1#post45112

        Comment


        • #5
          Thai exports suffer worst drop in four years
          Parvez Jabri
          Thursday, 25 February 2016



          BANGKOK: Thai exports fell by nearly nine percent in January, their worst drop in more than four year as economic woes continue to pile up on the kingdom's military rulers, government figures released Thursday showed.

          Once one of Southeast Asia's most vibrant and successful economies, Thailand has struggled with lacklustre growth fuelled by more than a decade of political instability and slowing demand for its exports.

          The economy grew by just 2.8 percent last year, one of the region's slowest rates, in a blow to the kingdom's junta government, which vowed to kickstart trading following its 2014 coup.

          The country's continued export slump, compounded by the slowdown in key trading partner China, is one of a number of ailments derailing that pledge.

          Ministry of Commerce figures showed exports fell by 8.91 percent year-on-year to $15.7 billion in January, the worst drop since November 2011 and the fourteenth consecutive month of decline.

          Imports were also down 12.37 percent to $15.5 billion.

          Thailand's exports have been declining for much of the last three years.

          Former army chief turned prime minister General Prayut Chan-O-Cha has vowed to turn the economy round but his government's policies, which include ramped up public spending, have so far borne little fruit.

          Military control, which has been accompanied by a dramatic increase in rights abuses, also appears to have put off overseas interest, with applications for foreign direct investment slumping 78 percent in the first 11 months of 2015.

          Domestically, the economy is also beset by high household debt and low consumer confidence.

          The ministry figures showed modest export growth in Thailand's important auto-parts industry and a significant increase in rice sales for January.

          However other key pillars of the export economy showed decline including rubber, plastics, computer parts and chemicals.

          brecorder.com
          http://thailandchatter.com/showthrea...ll=1#post45112

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