Illustrative image (Source: NNT) Bangkok (VNA) – Thailand’s exports fell for the fourth consecutive month in November, mainly due to lower prices of oil and agricultural products, a slowdown in the world economy, the US-China trade tensions, and rising baht.
According to the Ministry of Commerce, the country’s total export turnover in November was estimated at only 19.7 billion USD, down 9.39 percent from the same period last year, after respective declines of 4 percent, 1.4 percent, and 4.5 percent in August, September, and October 2019.
Exports to most trading partners declined, except for the US (up 1.4 percent), Taiwan (up 6.5 percent, Hong Kong (up 2.6 percent), and China (up 2.3 percent).
The Bank of Thailand (BoT) has lowered the country’s economic growth forecast to 2.5 percent in 2019 and 2.8 percent in the next year due to heightened external risks.
Exports, a key driver of economic growth, are now projected to shrink 3.3 percent this year, compared with a 1 percent fall seen earlier. Next year's exports are expected to rise by a smaller 0.5 percent, rather than 1.7 percent./.
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