BANGKOK, 27 July 2015 – The Ministry of Commerce has reported that export revenue has been decreasing for six months in a row to stand at 18.16 billion US dollars in June.
According to Mr Somkiat Triratpan, Director of the Trade Policy and Strategy Office, Thailand exported 18.16 billion dollars’ worth of goods in June which represented a contraction of 7.87 percent. The export downtrend was found to be persisting for a sixth consecutive month. Between January and June this year, the total export value was 106.85 billion dollars, down from the same period last year by 4.84 percent.
However, imports shrank slightly to 18 billion dollars in June and to 103.38 billion dollars for the first half of the year. As a result, Thailand still enjoyed a trade surplus of 3.47 billion dollars.
Factors contributing to the continuous decline in export values included the oil price reduction, delayed recovery of the global economy and a significant contraction in the export of Thai made automobiles and parts. The weakening baht, on the other hand, is believed to have helped stimulate Thai exports although it could also cause the prices of some imported items to soar.
The Trade Policy and Strategy Office Director projected that car exports will return to normal in August while a positive expansion of overall Thai exports should be seen again in the last quarter of this year.
