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Thailand continues 18 month growth spurt as exports rise 6.7 per cent

Growth Spurt: The total value of Thailand’s exports rose 6.7 per cent year on year to US$22.79 billion (Bt1.23 trillion) in August, recording continuous growth for 18 months, according to the Ministry of Commerce.

 

The Director of the Trade Policy and Strategy Office, Pimchanok Vonkorpon, said that the value on imports hit US$23.38 billion in August, up 22.8 per cent year on year, resulting the country’s trade deficit of US$588 million.

Thailand’s total export value for the first eight months of this year was US$169.03 billion, up 10 per cent year on year. The total value of imports in the first eight months of this year was US$166.67 billion, up 15.9 per cent year on year, resulting in a trade surplus of US$2.35 billion.

Pimchanok said that the growth of total exports in August was due to higher overseas sales on industrial goods, by 5.8 per cent, as well as exports of oil-related products, auto parts, as well as cosmetics and acne treatment products, which jumped by 50.6 per cent year on year. Fresh vegetables, fruits, cassava and rice were up 4.1 per cent.

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