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Thailand’s exports show signs of recovery after 11-month decline
In August, Thai exports have shown a positive improvement by 2.6% compared to the same period last year. This marks the first time in 11 months that the country’s exports have rebounded after a continuous decline.
Key Takeaways
- Thai exports in August showed signs of recovery, with a 2.6% year-on-year increase after 11 consecutive months of decline.
- The increase in exports was driven by a rise in farm product exports, while industrial product exports still experienced a slight decrease.
- Key markets such as the US, Japan, and China saw positive growth in Thai exports, but exports to ASEAN, the European Union, and CLMV countries declined.
Thai exports for the month of August increased by 2.6%, the first growth in 11 months. The value of exports for August was 8.25 billion baht, while imports dropped by 12.8%.
In the latest month, the trade surplus amounted to 2.46 billion baht. However, it is worth noting that overall exports for the first eight months of this year have decreased by 4.5% in comparison to the same period last year.
However, Thailand’s export performance in August was better than many other countries in the region.
The increase in exports was driven by a rise in farm products, while industrial products saw a slight increase as well. Exports to key markets such as the US, Japan, and China also increased. It is expected that exports will continue to rebound in September and the last quarter of the year.
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