Thailand’s export sector sees recovery with third month of growth

The Director-General of the Fiscal Policy Office, Pornchai Thiraveja, has announced that the export sector is showing signs of recovery, marking its third month of consecutive growth. Despite a year-on-year contraction of 2.7% in the value of exports between January and October, monthly figures indicate a resurgence, with an 8% rise in October to US$23.5 billion.

Quarterly analysis shows a decrease in the value of exports by 4.5% in the first quarter, 6.2% in the second quarter, and a smaller 0.5% contraction in the third quarter. Excluding oil-related products, gold, and weaponry, the real sector witnessed a growth of 5.4%.

Pornchai Thiraveja attributes the uplift in exports to an increase in agricultural products, such as fresh and frozen fruits, rice, food seasonings, and canned and processed vegetables. Industrial product shipments also saw growth for the first time in three months, with key products like automobiles, electronic circuit boards, telephone parts, and semiconductor transistors showing an upward trend. However, exports of rubber, air conditioners, computers, and sugar experienced a slowdown.

by Alex Morgan

Picture courtesy of Chakkrapan Natanri

Full story: The Thaiger 2023-11-30

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