Bangkok,, The Chairman of the National Shipping Council of Thailand (STN) is worried that Thai exporters are preparing to face a cost storm in the second half of the year. Ask the government sector to help take care of production costs such as electricity and energy costs. to the Thai private sector Ready to speed up water management to be efficient. To prepare for the transition from the El Niño phenomenon to La Niña,
Dr. Chaichan Charoensuk, Chairman of the Thailand Shipping Council. (TRC) said that the international trade situation of Thailand in April 2024 is compared to the same month of the previous year. It was found that exports were worth 23,278.6 million US dollars. expanded by 6.8 percent and had a value in baht of 834,018 million baht, contracted by 12.7 percent (when deducting gold, oil, and weapons and equipment It was found that exports in April expanded by 11.4 percent), while imports were valued at 24,920.3 million US dollars. expanded by 8.3 percent and had a value in baht of 903,194 milli
on baht, expanding by 14.2 percent, resulting in Thailand’s trade balance in April 2024 having a deficit of 1,641.7 million US dollars, or 69,176 million baht.
However, this results in Thailand’s international trade in January – April of 2024 being compared to the same period of the previous year. Thailand exports a total value of 94,273.9 million US dollars. expanded by 1.4 percent and had a value in baht of 3,338,028 million baht, expanding by 6.2 percent (when deducting gold, oil, and weapons and equipment It was found that exports during January – April expanded by 3.7 percent), while imports were valued at 100,390.7 million US dollars. expanded by 4.9 percent and had a value in baht of 3,595,217 million baht, expanding by 9.7 percent, causing Thailand’s trade balance in January – April 2024 to be at a deficit of 6,116.9 million baht, or equivalent to 257,190 million baht. Maintains forecast of export growth in 2024 at 1-2 percent (as of June 2024)
There are important factors to watch out for: 1) geopol
itical problems and the establishment of trade tariffs; Especially between China and the United States, it has a direct and indirect impact on the export sector continuously. 2) Concerns about production costs such as 2.1) Minimum wage which is under consideration for increasing 2.2) Energy costs such as oil. and electricity 2.3) Freight and additional costs (Surcharge) increased on all routes. The shortage of containers from China’s accelerated production and exports affects costs and processing times. 3) SME exporters Starting to face problems with working capital for export production and 4) climate change. From the El Niño phenomenon to the La Niña phenomenon. This causes a risk to agricultural products.
However, the NRCT has suggestions that it would like the relevant government sector to take care of, including: 1) The government must regulate the costs of production for export, such as energy costs, electricity bills, and minimum wages. and shipping costs to an appropriate level 2) Exporters must plan
transportation By booking in advance Including negotiations with trading partners to adjust shipping rates to be in line with market freight rates that are greatly increasing. Including the need to manage product stocks appropriately. 3) The government must manage water efficiently. To prepare for the transition from the El Niño phenomenon to La Niña, 4) the government must support funding sources for SMEs sufficient for circulating cash flow and production for export. 5) the government must consider improving and increase the import quota of agricultural raw materials for production for export such as coffee, coconuts, etc. 6) The government must strengthen the image of Thai products to cover all product groups. and continue to operate.
Source: Thai News Agency