October sees exports rebound

The value of shipments in October amounted to US$20.16 billion (Bt645.36 billion), while exports in the first 10 months of the year declined by 0.36 per cent to $190.62 billion.
Commerce Minister General Chatchai Sarikulya said the full-year growth projection was based on the estimated values for the last two months of the year: $19 billion in November and $19.5 billion in December.
 “With growing signs of an export recovery, Thai shipments this year should not face negative growth, but will only post a slight increase.
Next year, shipments should expand by 4 per cent given the clearer signs of a global economic recovery,” he said.
The economies of developed countries are expected to grow by an average of 1.8 per cent this year and 2.3 per cent next year, while developing nations will likely post average growth of 5 per cent next year, compared with 6.4 per cent estimated for 2014.
The ministry also reported that Thailand posted a trade surplus of $31.5 million last month. Imports in the first 10 months fell 9.49 per cent to $192.10 billion, with a trade deficit of $1.48 billion.
Imports in October declined 4.88 per cent year on year to $20.13 billion with the country posting a trade surplus of $31.5 million.
Exports last month grew strongly thanks to a sharp increase in shipments of automobiles and auto parts. Exports from the agricultural and agri-industrial sector increased 1.4 per cent, while the industrial sector posted a 5.4-per-cent increase year on year.
Shipments to all major markets except China increased in October.