Customs-cleared exports unexpectedly increased for a second straight month in September with higher demand from major markets, an encouraging sign for Thailand's trade-dependent economy which is still struggling to regain traction.
Exports rose 3.4% from a year earlier with a value of US$19.46 billion, commerce ministry data showed on Wednesday, compared with the median forecast for a fall of 2.0% in a Reuters poll.
In August, shipments also surprisingly increased 6.5%, boosted by auto shipments.
In September, imports were 5.6% higher from a year earlier, with a value of $16.91 billion, producing a trade surplus of $2.55 billion for the month. Many imported materials are assembled into completed goods and shipped out again. In August, annual imports dipped 1.5%.
Exports, worth about two-thirds of the country's economic output, have declined in each of the past three years. The Bank of Thailand has predicted exports will fall 2.5% this year, but deputy governor Mathee Supapongse told Reuters on Tuesday that shipments might perform better than forecast.