Thai Exports Shrink for 10th Consecutive Month in July
Thailand’s exports shrank by 6.2% in July, marking the 10th consecutive month of decline, according to the Ministry of Commerce.
Thailand’s exports shrank by 6.2% in July, marking the 10th consecutive month of decline, according to the Ministry of Commerce.
Thai shippers foresee a 10 percent contraction of the country’s exports this year due to the global pandemic.
Thai exports contracted 11.37 percent in July due to the COVID-19 pandemic but there are signs for gradual improvements, the Ministry of Commerce reports.
Exports of Thai farm products to ASEAN countries in the first quarter jumped 5.1 percent from the same period of last year.
A Thai shippers’ group expects exports to fall by more than 8 percent this year as an impact of the coronavirus pandemic.
Deputy Prime Minister and Commerce Minister Jurin Laksanawisit has called a meeting with the private sector organizations to discuss ways to boost exports that have dropped due to global slowdown, trade war and strong baht.
The Fiscal Policy Office revised its prediction on the economic growth rate for this year from 3% to 2.8% as it expected exports to drop by 2.5%.
Thailand’s exports in September dropped 1.4 percent from a year earlier, the Commerce Ministry reports.
Thai shippers urge the government to set up a panel to boost exports as the country’s exports will likely contract this year due mainly to the US-China trade row.
The exports of Thai gems and jewelry dropped 8.30 percent in the first four months this year, according the Gem and Jewelry Institute of Thailand (GIT).
The Commerce Ministry is looking for ways to boost exports to ease the impacts of the US-China trade war.
Thailand’s gem and jewelry exports will get a short-term windfall from the trade war between China and the US, says the Gem and Jewelry Institute of Thailand (GIT).