Thailand’s exports up 2.1 percent in April thanks to agricultural, gold shipments
Thailand’s customs-based exports recorded an annual growth of 2.12 percent in April as a result of higher shipments of agricultural products, food and gold, according to the country’s Commerce Ministry.
A port in Bangkok (Photo: AFP/VNA)Bangkok (VNA) – Thailand’s customs-based exports recorded an annual growth of 2.12 percent in April as a result of higher shipments of agricultural products, food and gold, according to the country’s Commerce Ministry.
Exports of agricultural and agro-industrial products went up 4.03 percent, corresponding to rising global food demand during lockdowns to curb the spread of the coronavirus disease.
Rice exports bounced back to increase 23.1 percent, while the shipment of industrial products overseas grew 4.05 percent, led by gold, aircraft, electric circuits, and medical supplies.
Exports to Thailand’s major markets – the US and Japan – continued to grow significantly. However, the severe spread of the virus in Europe suppressed its exports to 15 EU countries last month.
Local media said the spike in gold exports showed the risk aversion effects arising from the COVID-19 pandemic and global economic slowdown, resulting in rising gold prices and large exports to Switzerland, Singapore, and China’s Hong Kong. In addition, global oil prices have suppressed exports of oil-related products to the ASEAN and CLMV (Cambodia-Laos-Myanmar-Vietnam) markets.
Excluding gold, oil, and weaponry, Thai exports decreased 7.53 percent in April, the ministry said.
For the first four months of this year, exports increased 1.19 percent, however, it contracted 0.96 percent excluding gold, oil, and weaponry./.
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