Mentors Posted June 19, 2009 Report Share Posted June 19, 2009 BANGKOK -- Thailand's exports slumped at a record pace in May and could fall by nearly a fifth this year as global demand remains weak, the Commerce Ministry said Friday. Exports from Southeast Asia's second-biggest economy plunged 26.6 percent from a year earlier to $11.7 billion, their biggest monthly drop ever, the ministry said in a statement. BuzzImports slid 34.7 percent to $9.3 billion, producing a trade surplus of $2.4 billion for May. Thailand's export-dependent economy is reeling from the worst global recession in decades while domestic consumption remains sluggish because of chronic political instability following the 2006 coup that ousted Thaksin Shinawatra as prime minister. Gross domestic product shrank 7.1 percent in the first quarter from a year earlier. The ministry said exports this year will fall between 15 and 19 percent compared its previous forecast of exports being flat in the worst case scenario. Thailand is an exporter of soft commodities like rice and manufactured products such as electrical goods, hard-drives and vehicles. Exports for January through May were down 23 percent and imports were off 36.8 percent. Link to comment Share on other sites More sharing options...
Faustian Posted June 19, 2009 Report Share Posted June 19, 2009 But still condo prices remain insanely high..and the Baht ridiculously strong. Link to comment Share on other sites More sharing options...
Torneyboy Posted June 19, 2009 Report Share Posted June 19, 2009 Yeah ..i am waiting to pounce... Link to comment Share on other sites More sharing options...
cavanami Posted June 19, 2009 Report Share Posted June 19, 2009 1 U.S. $ = 34.1500 Baht http://sg.finance.yahoo.com/currency Baht remains strong vs the USD. Link to comment Share on other sites More sharing options...
clubsiam Posted June 19, 2009 Report Share Posted June 19, 2009 Lots of places are selling at steep discounts already. A place in my building sold for 85,000/ meter last year. Now asking 65,000. I had heard the cost for a building is about 65,000 to construct. Can it get lower than that? Link to comment Share on other sites More sharing options...
Faustian Posted June 19, 2009 Report Share Posted June 19, 2009 Here's an amazing list...just one estate agent, useful to compare...but just how much variability in price and how many are for sale now?? Incredible. Still way too high. http://www.condothai.com/property.asp?no=1&id=1&Pty= Link to comment Share on other sites More sharing options...
Hugh_Hoy Posted June 19, 2009 Report Share Posted June 19, 2009 When u consider the cost of labor and inferior (to the West) building standards, I'd say the costs should be about 1/3rd to 1/2 of what you posted. HH Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.