Exports to contract 7 per cent this year after Oct sees 6.7% fall
Thai exports are expected to fall 7 per cent this year, according to the Commerce Ministry.
The director-general of the Trade Policy and Strategy Office, Pimchanok Vonkornporn, said on Monday that many Thai export markets had expanded after the easing of lockdowns following the Covid-19 pandemic outbreak.
The contraction will be lower than 7 per cent if monthly export values for November and December exceed US$19 billion.
Thai exports in October were worth $19.376 billion, dropping 6.71 per cent year on year – further than the 3.86 per cent contraction in September. However, exports of industrial products in October improved, driven by automotive industry shipments.
Imports in October were $17.330 billion, down 14.32 per cent year on year, resulting in a trade surplus of $2.046 billion.
Exports during the first 10 months were worth $192.327 billion, down 7.26 per cent YOY, while imports were $169.702 billion, down 14.61 per cent.
