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Satisfactory export results may not help prevent trade deficit
10
Jun '08
Even though exports of Thailand may reach a satisfactory level, the country is on its way to experience a trade deficit.

However, the exact amount of trade deficit, Thailand is likely to incur, is yet to be assessed as the global prices of crude oil continue to rise uncontrollably.

Moreover, large amount of machinery imports made by Thailand for production of finished goods have also one its bit to widen the trade deficit.

The issue was recently discussed with entrepreneurs in textile, garments, gems & jewelry and agricultural sectors. But unfortunately, despite most of the industries performing well in their respective arenas, there is nothing much that can be done to prevent this deficit from surfacing on the annual trade results.

As of now, new policies are being undertaken with focus on penetrating new markets, particularly the Middle East, where the purchasing power is still very high.

Bifurcation of exports to varied markets will not only help exporters earn their revenues but will also ensure steady profits and strengthening of bilateral relations with client countries.

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