Thailand likely to fall short of 3.5 percent export growth
The Thai Commerce Ministry has admitted that the country many fail to
meet its export growth target of 3.5 percent this year, as exports
during August slumped to the lowest level in three years.
The Thai Commerce Ministry has admitted that the country many fail to
meet its export growth target of 3.5 percent this year, as exports
during August slumped to the lowest level in three years.
Director-General of the Department of Internal Trade Nantawan Sakuntanaga revealed that exports in August were valued at 18.943 billion USD, 7.4 percent lower than that of the same period last year. The figure marked a contraction in exports for the second consecutive month and the lowest in 32 months since December 2011 due to an unstable recovery of the world economy.
The economic uncertainties also led to a decline in gold investments. Gold exports dropped to 92.9 percent to 72 million USD in comparison to 2 billion USD in the same month of 2013.
Furthermore, petroleum and industrial product exports continued to shrink by 16.1 percent and 8.7 percent, respectively, making the total export value in the past eight months down 1.36 percent.
The ministry plans a meeting with commercial diplomats and members of the private sector on October 18 to assess the situation and discuss measures to expand trade.-VNA
Director-General of the Department of Internal Trade Nantawan Sakuntanaga revealed that exports in August were valued at 18.943 billion USD, 7.4 percent lower than that of the same period last year. The figure marked a contraction in exports for the second consecutive month and the lowest in 32 months since December 2011 due to an unstable recovery of the world economy.
The economic uncertainties also led to a decline in gold investments. Gold exports dropped to 92.9 percent to 72 million USD in comparison to 2 billion USD in the same month of 2013.
Furthermore, petroleum and industrial product exports continued to shrink by 16.1 percent and 8.7 percent, respectively, making the total export value in the past eight months down 1.36 percent.
The ministry plans a meeting with commercial diplomats and members of the private sector on October 18 to assess the situation and discuss measures to expand trade.-VNA
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