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Thailand’s Automotive Exports Down 7.5% Hitting the Lowest Volume in 2 Years

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RAYONG – The Federation of Thai Industries reported on Thursday Thailand exported 67,114 vehicles in April, down by 7.5% year-on-year, representing the lowest volume in 24 months.

The value of the auto exports last month stood at 35.55 billion baht, down by 3%.

The FTI’s automotive industry club said the April shipments contracted in all markets, except Australia and the Middle East.

Local sales in April stood at 86,076 vehicles, up by 8.7% from the same month last year. Overall car production last month totalled 150,242 units, up by 11.5%.

Meanwhile, the trade war between China and the United States has caused the value of the export sector of Thailand to decline in the period from March to April. However, the Ministry of Commerce is still confident that there are positive signs because Thai products tend to maintain their market share in the global market.

Ms. Phimchanok Wonkhorphorn, Director of the Office of Trade Policy and Strategy, said this week that April’s export value was a lower 18.55 billion US dollars, falling 2.57 percent for the second consecutive month after contracting 4.88 percent in March, due to the trade war between China and the United States which is causing the global economy to slow down.

Although the United States market grew by 4.7 percent, exports to the Chinese market fell five percent. Despite the decline in the value of exports, there were positive signs from electronic products which fell only 8.24 percent in April from 17.10 percent in March, and products that were exported to the Chinese market in lesser volume, were exported to the ASEAN market in greater volume.

Export of agricultural products have continued to expand especially seasonal fruit, fresh vegetables and canned food which grew as much as 62.30 percent. This suggests that Thailand can still maintain its market share in the global market.

Imports in April amounted to 20.01 billion US dollars, down 0.72 percent, resulting in a trade deficit of 1.45 billion US dollars. However, in the overall picture of the first four months of this year, Thailand still enjoys a trade surplus of 549 million US dollars.

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