Tuesday, 02 January 2024 12:17 GMT

Thailand's Export Growth Softens To 5.7 Pct In October


(MENAFN- The Peninsula) Xinhua

Bangkok: Thailand's exports grew for a 16th straight month in October, driven by demand for electronics and automotive products, consistent with an ongoing expansion in global manufacturing activity, official data showed on Tuesday.

Exports, a key driver of the Southeast Asian country's economic growth, expanded 5.7 percent year-on-year last month to 28.84 billion US dollars, decelerating from a 19 percent jump in September and marking the softest pace since last September, according to the Ministry of Commerce.

Industrial shipments increased 8.8 percent, indicating the 19th successive month of growth, fueled by strong expansion in sales of computers, electrical switchboards and control panels, and gems and jewelry.

Meanwhile, exports of agricultural products declined 14.6 percent, and agro-industrial shipments rose 6.2 percent.

The data also indicated that imports surged 16.3 percent from a year earlier to 32.27 billion dollars in October, resulting in a trade deficit of 3.44 billion dollars.

For the first 10 months of 2025, exports climbed 13 percent to 282.98 billion dollars, while imports picked up 12.4 percent to 286.85 billion dollars, yielding a trade deficit of 3.87 billion dollars.

Thai exports are expected to remain positive, albeit at a slower pace in the remaining months of the year, supported by strong global demand for digital technology products and sustained demand for processed agricultural and food products, the ministry said in a statement.

Looking forward, the ministry noted that it will continue to monitor risks, which include potential appreciation of the baht currency toward year-end and a possible drop in domestic farm output stemming from flooding.

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