Thai export shrinks 4.47 % in February
Thai exports totalled US$ 20.641 billion in February, shrinking 4.47 per cent year on year, said Pimchanok Wonkorporn, director of the Trade Policy and Strategy Office, today (March 23).
“However, when removing gold, oils and weapons from the tally, export expanded 1.5 per cent,” she said. “Combining the first two months of 2020, Thailand’s exports stood at $40.2675 billion, down 0.81 per cent from the same period last year”.
Imports in January and February amounted to $37.9259 billion, decreasing 6.32 per cent year on year, but still leaving a surplus of $2.3416 billion in Thailand's favour.
“Major factors that affected February’s export were the trade war, plummeting oil prices and the Covid-19 outbreak that had slowed China’s import from Thailand,” said Pimchanok. “Furthermore, the outbreak had caused many countries to close their borders and limited transportation routes which resulted in lower demands for products from Thailand.”
Thailand’s top ten export products are: Automotive components, computer components, gold, rubber, oils, plastic beads, machinery components, chemicals, jewelries and air conditioners.
