July exports up 10.5% year-on-year

July exports up 10.5% year-on-year

Customs-cleared annual exports rose for a fifth straight month in July, but fell short of expectations, as demand from major markets increased.

Exports, a key driver of Thailand's growth, rose 10.5% in July from a year earlier after June's 11.7% rise, commerce ministry data showed on Wednesday. A Reuters poll expected an annual rise of 11.6% in July. 

In January-July, exports grew 8.2% from a year earlier, Pimchanok Vonkhorporn, an official at the Commerce Ministry, said at a briefing. 

Exports have just recovered this year but are under pressure from a strong baht, which has appreciated 7.7% against the US dollar this year, the biggest gain in Asia. 

The ministry said on Wednesday it expected exports to rise 5-6% this year, compared with the earlier 5% target, after a 0.5% rise last year following three years of decline. 

Imports in July increased 18.5% from a year earlier, compared with the forecast of a 13.0% rise. Thailand had a trade deficit of US$188 million in July, the first deficit in more than two years, compared with a poll forecast of a $800 million surplus. Many of the materials Thailand imports are assembled into completed goods and shipped out again.

Do you like the content of this article?

Activists unfurl Tibet flag at Beijing Olympics flame ceremony

OLYMPIA, Greece: Activists unfurled a Tibetan flag and a banner that said "no genocide" at the flame-lighting ceremony for the 2022 Beijing Winter Olympics in Greece on Monday.


Serious-offence probe into mishandling of 'Boss' case

A seven-member committee has been set up to conduct a serious disciplinary investigation of former deputy attorney general Nate Naksuk's decision to drop a charge of reckless driving causing death against Red Bull scion Vorayuth "Boss" Yoovidhya.


Bye-bye Sinovac

The combination of the Sinovac and AstraZeneca jabs will be replaced by a formula of AZ and Pfizer after the Chinese-made vaccine runs out.