Thai exports were valued at US$18.81 billion, down 11.3 per cent year on year (YoY) while imports were valued at $15.47 billion, contracting 26.38 per cent YoY, resulting in a $3.34-billion trade surplus in July.
Pimchanok said that during the first seven months of the year, exports were valued at US$113.16 billion, down 7.72 per cent YoY, while imports were valued at $119.118 billion, down 14.69 per cent YoY, resulting in a $14.04-billion trade surplus.
One of the key factors for the positive trade outcome is the export potential of food, processed agricultural products and products for working from home while Covid-19 related goods are also in demand.
Negative factors include the second wave of Covid-19 outbreak in several countries and trade wars, but the Ministry of Commerce believes that exports could continue to average $18 billion a month, which could mean an 8 or 9 per cent contraction YoY.