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Pattaya Daily News

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19 June 2009 :: 17:06:25 pm 3348

Thai Exports in May Drop to an All Time Low

Thai exports fell 26.6 per cent in May from a year earlier to US$11.7 billion, the biggest monthly decline ever, Permanent Secretary for Commerce Siripol Yodmuangcharoen announced on Friday.
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Bangkok, the 19th of June 2009 [TNA]: The export value in the first five months of 2009 amounted to $55.872 billion, a drop of 22.9 per cent, he said.

Both agricultural goods and industrial commodities were affected, except for sugar, chicken, vegetables and fruit, tapioca and shrimp exports, which enjoyed a bit higher level of export.

The country’s imports in May stood at $9.251 billion, a drop of 34.7 per cent compared to the same period last year. Consequently, Thailand enjoyed a trade surplus of $2.4 billion in May and $10.054 billion for the first five months of this year, he added.

The global recession caused Thai exports to tumble for five consecutive months this year, while goods prices on the world market are rather low. Although the government has stimulus measures to help exporters, exports are likely to contract by 15-19 per cent due to the slow recovery of the world economy, Mr. Siripol said.

“Thai exports in the second half of this year will improve and are forecast to turn positive in the last two months of this year,” he said. (TNA)

Reporter : Methawee   Photo : Methawee   Category : Business News

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