Thailand's import and export value in August declined consecutively as the weak global economy brought lower-than-expected demand.
Exports fell for the second month by 7.4 percent to 18.94 billion USD, the lowest level in 32 months, while imports also declined for 13 consecutive months by 14.17 percent on year to 17.79 billion USD, according to the data from the Thai Ministry of Commerce.
Slowdown in domestic consumption and exports were attributed as main reasons in declining as well as the falling demand for cars after the first car buyer scheme ended that helped to push trade surplus by 1.14 billion USD, director-general of the International Trade Promotion Nuntawan Sakuntanaga was cited by Thai media as saying.
During the last eight months, the country's export value shrank 1.36 percent to 150.5 billion USD from the same period, while import value of the same period also declined 12.69 percent to 150.2 billion USD.
Exports which saw significant decline were automobiles, auto parts and accessories in major markets such as Indonesia and Australia.
However industrial goods which showed sign of satisfactory growth in the second half were computers and parts, and electrical appliances of which purchasing orders will come in before Christmas, PBS television bulletin reported.
It is expected that Thai exports would definitely miss the projection of 3.5 percent growth for the full year, however, the exports were expected to grow by only 0.5-1 percent for the whole year.-VNA
Exports fell for the second month by 7.4 percent to 18.94 billion USD, the lowest level in 32 months, while imports also declined for 13 consecutive months by 14.17 percent on year to 17.79 billion USD, according to the data from the Thai Ministry of Commerce.
Slowdown in domestic consumption and exports were attributed as main reasons in declining as well as the falling demand for cars after the first car buyer scheme ended that helped to push trade surplus by 1.14 billion USD, director-general of the International Trade Promotion Nuntawan Sakuntanaga was cited by Thai media as saying.
During the last eight months, the country's export value shrank 1.36 percent to 150.5 billion USD from the same period, while import value of the same period also declined 12.69 percent to 150.2 billion USD.
Exports which saw significant decline were automobiles, auto parts and accessories in major markets such as Indonesia and Australia.
However industrial goods which showed sign of satisfactory growth in the second half were computers and parts, and electrical appliances of which purchasing orders will come in before Christmas, PBS television bulletin reported.
It is expected that Thai exports would definitely miss the projection of 3.5 percent growth for the full year, however, the exports were expected to grow by only 0.5-1 percent for the whole year.-VNA
