Thai exports fall 3 per cent in October, lowest this year

Thai exports fall 3 per cent in October, lowest this year
Nov 20, 2009

Bangkok - Thailand's exports hit 14.8 billion dollars in October, a decline of 3 per cent year-on-year, marking the lowest fall in 2009, the commerce ministry said Friday.

Imports reached 13.1 billion dollars, down 17.5 per cent year-on-year. Thailand recorded a trade surplus of 1.7 billion dollars, Thai Commerce Minister Porntiva Nakasai said.

'The main export items that saw a rise in October were rice, up 2.6 per cent, tapioca, up 81.3 per cent, frozen and processed shrimp, up 15.3 per cent, electrical appliances, up 5.7 per cent and gold, up 63.7 per cent,' she said.

Like most Asian economies, Thailand's exports have been hard hit by the financial crisis and resulting recession in the US and Europe, resulting in falling demand for imports.

The commerce ministry said exports were now reviving as demand slowly returned to Thailand's main markets where companies were restocking supplies for the Christmas and New Year season.

During the first 10 months of 2009, Thailand's total exports reached 124.1 billion dollars, down 19.6 per cent year-on-year, while imports were down 31.2 per cent at 106.6 billion dollars, leaving a surplus of 17.5 billion dollars.

monstersandcritics.com