Thailand’s exports to drop 7 per cent this year: ministry

25-Nov-2020 Intellasia | TheStar | 6:51 AM Print This Post

Thailand’s Ministry of Commerce has said Monday (November 23) that Thai exports are expected to fall 7 per cent this year.

However, the contraction will be lower than 7 per cent if monthly export values for November and December exceed $19 billion, said Pimchanok Vonkornporn, the ministry’s director-general of the Trade Policy and Strategy Office.

She also added that many Thai export markets had expanded after the easing of lockdowns following the Covid-19 pandemic outbreak.

The country’s exports in October were estimated at $19.376 billion, dropping 6.71 per cent year-on-year. However, exports of industrial products in October had improved, thanks to the increase in automotive industry shipments.

Imports in October were $17.330 billion, down 14.32 per cent year-on-year, resulting in a trade surplus of $2.046 billion, according to the press release issued by Pimchanok’s office.

Also, exports during the first 10 months were estimated at $192.327 billion, down 7.26 per cent year-on-year, while imports were $169.702 billion, down 14.61 per cent.


Category: Thailand

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