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Continuous export increase in 1st quarter 2016

06.07.2016  12:33

Danish exports shows strength despite Thai economic slowdown


Interesting new export numbers from the first quarter (Q1) of 2016 shows that Danish export to Thailand is increasing continuously. Although the result from especially March 2015 have not been exceeded showing extraordinary increase within in that specific month the export of 2016 is still going the right way.
As presented in the charts, Q1 of 2015 is far ahead of both 2014 and 2016, especially because of a very satisfying result in March 2015. If we look closely at the numbers we will recognize a significant higher export within the runner-up export groups in March 2015 (Enzymes 19,848,986 DKK) compared to March 2016 (Mink fur: 13,984,427 DKK). But even though the Q1 of 2016 has had a slight fall back of March compared with Q1 of 2015, the overall results of Q1 of 2016 shows increase of 8.74 pct. compared to 2014.

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Since the coup in 2014 the Thai economy has faced many troubles and the cost has been high; the military government has not been able to sustain economic growth. Spending has been weak, investments have gone down and the trade and tourism has not been flourishing. However, the international export to Thailand has remained at a certain level, consumer confidence has been somewhat stabile but household spending is still lacking behind. Despite the descent in Thai economy and despite the difficulties with the political struggle in Thailand, Danish export to Thailand not seem to be that much affected by the decrease and carries on with satisfying outcomes every year – 2016 does certainly look like it is going to follow the line.

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Pharmaceuticals still in lead

Within the last couple of years there have been a continuous increase in pharmaceutical exports to Thailand with an increase by 14.45 pct. from 2014 to 2015 looking at the top product line ‘pharmaceuticals, measured dose’. The result for this specific product line is looking good for 2016 as well; it is, however, a decrease from 2015 to 2016 if we look at Q1 only, but as noted above year 2015 experienced an exceptionally good quarter.  “It will be very interesting to follow the export on this particular product line throughout the year to see if Danish exporting companies will be able to lift the bar and come out with an even better result at the end of year 2016. We have also seen good results already with similar products in the area of pharmaceuticals”, says Asbjørn Christiansen, head of trade at the Danish embassy in Bangkok.  Apart from pharmaceuticals the export numbers of different types of machine parts as well as electronics delivered great results in Q1 2016, which is a pleasant continuation of previous years and hopefully will proceed in 2016.

 

Source: Danmarks Statistik

For further information, please do not hesitate to contact the Danish embassy: bkkamb@um.dk or visit the The Trade Council on this website