Illustrative photo (Photo: Thaipbsworld.com) Bangkok (VNA) – Thailand’s exports in August increased by 2.6% year on year for the first time after dropping continuously in 10 months, Permanent Secretary of Commerce Kirati Ratchano said on September 26.
Accordingly, the country's exports reached about 825 billion baht (24.28 billion USD), which is seen as a good sign after exports fell in 10 consecutive months.
Meanwhile, Thailand's imports during the same period dropped 12.8% to 823 billion baht, resulting a trade surplus of 2 billion baht.
In the first eight months of this year, Thailand’s exports reached about 6.38 trillion baht (nearly 187.6 billion USD), down 4.5% year on year, while imports also dropped 5.7% to about 6.7 trillion baht, resulting in a trade deficit of about 353 billion baht.
According to Kirati, Thailand’s export rebound is attributable to a 4.2% increase in exports of farm produce, the first time in four months.
Specifically, its exports of frozen and dried fruits rose by 99.8%, rice by 10%; canned and processed vegetables 26.5%, dairy and dairy products 13.2%, frozen and dried vegetables 22.8%.
In August, Thailand's exports of industrial products rose 2.5% for the first time in three months, including the exports of cars, accessories and spare parts up 5.2%, electric circuits up 39.8%, machinery and parts up 6.4%, phones and accessories up 36.9%, semi-conductors and transistors up 74.5% and transformers and accessories up 59.1%.
Thailand's exports to its key markets in August increased by 2.3%, including a rise of 21.7% to the US, 15.7% to Japan and 1.9% increase to China. However, its exports to ASEAN, the European Union and CLMV (Cambodia, Laos, Myanmar and Vietnam) fell 1.5%, 11.6% and 21.3%, respectively.
Kirati said Thailand’s exports in September and the last quarter of the year are expected to rebound./.
