Thailand’s exports experienced a growth of 2.1% in September, marking the second consecutive month of increase, largely driven by higher shipments of agricultural and agro-industrial products. Agricultural product exports saw a significant jump of 17.7%, while agro-industrial goods expanded by 5.4%. However, major markets such as the US, Japan, and the EU remained slow due to geopolitical risks and high interest rates. Industrial product shipments, on the other hand, declined by 0.3%. Imports in September fell by 8.3%, resulting in a trade surplus of $2.09 billion. However, for the first nine months of the year, both exports and imports decreased, leading to a trade deficit of $5.83 billion.
In August 2023, Thai exports experienced growth for the first time in 11 months, expanding by 2.6% year-on-year. The Ministry of Commerce anticipates a steady increase in exports in the final quarter of the year, driven by stable demand for food security and an upswing in the service and tourism sectors during the year-end festive season.
Source link : Thailand’s exports increased for the second consecutive month in September
