Government optimistic on exports
The government remains positive that exports will stay flat or eke out marginal growth this year despite an unexpected drop in October after two months of gains. The Commerce Ministry on November 28 said exports fell by 4.2% year-on-year in October to UScopy7.78 billion after growth of 3.4% year-on-year in September and 6.5% in August. Pimchanok Vonkhorporn, deputy director-general of the Commerce Ministry’s Policies and Trade Strategies Bureau, blamed the export decline on easing demand from major markets and weaker shipments of gold and oil-related products. The fall was also magnified by last year’s high base, she said. The ministry said exports of agricultural and agribusiness products slipped back to a contraction after gains in September, falling 8.1% from October last year to $2.63 billion due to lower shipments of sugar, rice, tapioca products and rubber.
