Monday, July 22, 2019

Exports shrink in December, up overall for 2018

Jan 21. 2019
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By The Nation

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Thai exports contracted 1.7 per cent in December to a combined value of US$19.4 billion, the Commerce Ministry reported on Monday. 

It said the shrinkage coincided with the global trade slowdown, ongoing trade disputes and disruptive emerging technologies in electronic products. 

Total export value in 2018 expanded 6.7 per cent from the same period last year, to $252.5 billion.

Imports in December decreased 8.2 per cent to $18.3 billion, resulting in a trade surplus of $1.065 billion. 

For all of 2018, import value rose 12.5 per cent to $249.2 billion, creating a trade surplus of $3.255 billion.

Thai exports to most markets weakened and were influenced by electronic products such as computer and electronic circuits, especially in markets tied to the Chinese supply chain, such as Hong Kong, South Korea and Taiwan. 

Exports to China in many products contracted in response to a slowdown of Chinese import and export figures. 

In contrast, exports to the US, Japan and other Southeast Asian countries grew favourably, albeit it at a decreasing rate – 0.6, 2.7 and 2 per cent respectively, in keeping with the global trade slowdown.

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