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July exports up by 20.27%


Thai exports in July grew for the fifth consecutive month, rising 20.27 per cent to US$22.65 billion, the Commerce Ministry reported on Monday.

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The rise was due to accelerated clearance of export obstacles, implementation of the ministry's export promotion plan, and continuing recovery in the US and other key markets, said the ministry.

The easing of EU lockdown measures helped Europe’s economy to grow faster, and global manufacturing to maintain strong expansion, with Global Manufacturing PMI at 50 per cent for the 13th consecutive month, it added.

Meanwhile, depreciation of the baht was helping to support the Thai export sector, said the ministry. Exports for the first seven months of 2021 grew by 16.20 per cent.

Thai exports expanded to almost every country, continuing at a high rate in major markets such as the United States, the European Union, China, Japan, South Korea, and Taiwan. Asean, especially the CLMV (Cambodia, Laos, Myanmar and Vietnam), showed satisfactory export-growth potential, said the ministry. Thai exports to Myanmar were particularly impressive showing expansion for the fourth consecutive month. Meanwhile, the Middle East, Latin America, Africa, and Russia and CIS markets have almost all grown at high rates, it said.

Exports for the first seven months of 2021 rose 16.20 per cent to $154.98 billion compared to last year. Imports were valued at $152.36 billion, a rise of 28.73 per cent. Thailand registered a trade surplus in the first seven months of $2.623 billion.

Published : August 23, 2021

By : The Nation