Thai exports improve
Thailand’s export volume in June was US$12,335 million, a drop of 25.9 per cent year on year, while exports totaled US$11,398 million, down 29.3 per cent on June last year. This resulted in a trade surplus of US$937 million in June.
For the first six months of this calendar year, total exports were US$68,207 million, a drop of 23.5 per cent compared to the same period last year, and total imports US$57,216 million, a 35.4 per cent drop.
However, on a yearly basis, Thailand’s shipments fell for an eighth month in June, decreasing by 25.92% compared with $16.65 billion in the same month last year. The trade surplus for the first half amounted to $10.99 billion compared with $573.3 million last year.
Thailand’s July exports are expected to be much better as the government steps up its export stimulus measures, such as facilitating export credit to ease exporters’ credit and business matching between local producers and foreign buyers.
Exports, which make up about 60 percent of the economy, haven’t risen since October. The price of rice, of which Thailand is the world’s largest exporter, last month, averaged $581 a ton, 33 percent less than a year ago.
Orders to electronics, computer and food producers have improved, Rachane Potjanasuntorn, director general at Export Promotion Department, adding the outlook for the automotive and jewelry industries remains unclear.