Green Asia

Thai exports rise 2.6% y/y in August, first increase in 11 months

BANGKOK : Thai exports unexpectedly rose for the first time in 11 months in August, helped by higher shipments of agricultural and industrial goods, despite weak global demand, the commerce ministry said on Tuesday.

Customs-based exports, a key driver of Thailand’s economy, rose 2.6 per cent in August from a year earlier, compared with analysts’ median forecast for a 4 per cent decline in a Reuters poll.

In August, Thailand posted a trade surplus of $0.36 billion, compared with a forecast deficit of $1.75 billion, while imports dropped 12.8 per cent year-on-year. That compared to a fall of 10 per cent seen in the poll.

In the January-August period, exports contracted 4.5 per cent from year earlier.

Exports are expected to contract by up to 1 per cent to 2 per cent this year, Deputy Commerce Minister Napintorn Srisanpang said this month.

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