October exports rise 8.0% y/y, miss forecast

October exports rise 8.0% y/y, miss forecast

Customs-based exports rose for a third straight month in October, up 8.0% from a year earlier, the commerce ministry said on Monday, short of expectations.

The reading compared with a forecast for a 9.3% year-on-year increase for October in a Reuters poll, and followed September's 2.1% rise.

October imports rose 10.2% year-on-year, beating a forecast rise of 6%, resulting in a trade deficit of $0.83 billion for the month, compared with a forecast surplus of $0.53 billion. In the January-October period, exports declined 2.7% from a year earlier while imports dropped 4.6% and the trade deficit stood at $6.67 billion.

Earlier this month, Commerce Minister Phumtham Wechayachai said exports were expected to contract less than 1% this year before rising 1.99% next year.  

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