Thai exports plunge 7 per cent as European demand slows
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Thailand's August exports reached 19.8 billion dollars, a 7.0 per cent fall year-on-year, due in part to declining demand in Europe, the commerce ministry said.
"The main negative factor affecting our exports was the declining demand in the European market," said Deputy Commerce Minister Phume Salaphol.
During the first eight months of this year, Thailand's exports reached 151.6 billion dollars, down 1.3 per cent year-on-year, while imports amounted to 164.7 billion dollars, up 7.6 per cent, leaving the country with a 13.1 billion dollar trade deficit.
Exports usually account for about 70 per cent of Thailand's gross domestic product.//DPA
