Business
Thai International Exports Continue to Decline
Containers sit stacked near gantry cranes at the Port of Bangkok
BANGKOK – Thai exports fell for the fourth month running in April, down 1.7% year-on-year and 3.99% for the first four months of 2015, the Ministry of Commerce said on Tuesday.
Somkiat Triratpan, director of the ministry’s Trade Policy and Strategy Office, said exports in April were worth US$16.9 billion, and total value for the first four months this year was $70.2 billion.
In April, imports cost $17.4 billion, dropping 6.84% year-on-year. Thailand posted a trade deficit of $523 million for the month.
In the first four months of this year, imports were valued at $69.3 billion, down 6.53% year-on-year, and the country posted a trade surplus of $906 million.
He attributed the export situation to the delayed recovery of the global economy and the decline in oil prices.
“Although exports have declined four months in a row, the drop was less than the previous months this year. The contraction was 3.46% in January, 6.15% in February and 4.45% in March.
“If exports related to oil and gold are excluded, the value of Thai exports in April would be up by 0.1%. This is a positive sign for exports,” Mr Somkiat said.
The value of industrial exports dropped by 0.3% to $13.25 billion due to the lower price of crude oil. Export expansion was seen with electronic circuits, automobiles and parts, electrical appliances and parts, and computers.
The Commerce Ministry will send 25 trade teams to boost Thai exports in other countries, beginning with India.
The value of baht was the lowest in six years at 33.76 baht against US dollar on Tuesday following the Commerce Ministry’s announcement of Thai export figures in April.
