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.

Exports in July contract 11.3 per cent but govt reports trade surplus

Thailand’s exports in July contracted 11.3 per cent compared to the same period last year while total contraction in the first seven months of 2020 was 7.7 per cent, Pimchanok Vonkorpon, the director-general of Trade Policy and Strategy Office, said.