First plunge in exports in 25 months
Thailand's November exports showed the first year-on-year plunge in two years, as the export value slumped 12.44 per cent to US$15.98 billion.
According to the Commerce Ministry, supply-chain disruptions took a heavy toll on the manufacturing sector in the month and attributed chiefly to the fall.
The monthly decline was the first time since October 2009.
In the month, imports also dropped 2.43 per cent to $16.87 billion, resulting in a small trade deficit.
Thai exports during the first 11 months grew 19.04 per cent to $211.8 billion. Imports went up by 25.47 per cent to $209.34 billion. The country locked in a trade surplus of $2.46 billion in the first 11 months.
"Exports in December is expected to continue a decline due to flood impacts. Still, for the full year, exports growth should be at least 15-20 per cent this year," said Deputy Commerce Minister Siriwat Kajornprasart.
