Thai Floods: Thailand’s vehicle exports down 92% in November!

Thailand’s vehicle exports in November fell 92.1 percent year-on-year to 6,258 vehicles due to the severity of the country’s worst flooding in 50 years, Deputy Commerce Minister Siriwat Kachornprasart said Tuesday.

If production in December amounts to 50,000 vehicles, as is pessimistically predicted, the industry will build 1.4 million units in 2011 — falling short of 2010’s 1.65 million and badly missing this year’s target of 1.8 million.

In the January-November period, vehicle output recorded a 9.9% on year drop to 1,358,369 units, while exports fell 15.1% to 700,581 units.

Domestic vehicle sales in November reached 206,069 units, down 66.9 per cent year-on-year.

Hundreds of people died, tens of thousands lost jobs and livelihoods with huge tracks of farmland inundated and factories forced to close.

Gradually the clean-up is making progress but a full recovery will take a good deal of time and money.

Prime Minister Yingluck Shinawatra has put flood-related damages at 1.3 trillion baht (~ $41 billion).
The flooding came in late July and lasted until late November, killing more than 600 people and affecting about 2.4 million more in one-third of the country’s provinces.
1 Thai baht = 0.031959 U.S. dollars

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