Export rises 4% in August
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Thailand's export value in August rose 3.92 per cent to US$20.46 billion (Bt629.47 billion), according to the Commerce Ministry.
The export value rose above $20 billion for the first time in 5 months and it showed the first positive growth after 3-month contraction.
The import value in August was down by 2.1 percent to US$20.56 billion, causing trade deficit of $94.7 million. Excluding gold, Thailand would have registered trade surplus of $170 million.
Srirat Rastapana, director-general to the International Trade Promotion Department, said the positive export figure in August showed that demand returns. She anticipated continued growth in the remaining months of this year.
After the contraction for four consecutive months, export to China expanded by 3.1 in August compared to the same period last year. Export to EU went up 14.1 per cent and to Asean up 17.3 per cent. Only export to Japan dropped 6 per cent.
In August, automobile and parts exports rose 15.9 per cent on year, after the 10.2 per cent contraction in July, as auto makers sought more revenue to compensate lower domestic demand. Auto exports to the Philippines and Saudi Arabia - No.3 and 4 biggest markets - rose 67 per cent and 52.3 per cent.
In the first eight months of the year, the export value grew 1.03 percent to US$152.83 billion (Bt4.54 trillion). In the period, import value rose 3.1 per cent to $170.98 billion. This resulted in trade deficit of $18.14 billion.
