Exports rose for a third straight month in September, although less than expected, data showed on Monday, and the commerce ministry said shipments would continue to increase in the final quarter of the year.
The ministry is targeting export growth of 2% this year, with the value expected at a record high of US$290 billion, Poonpong Naiyanapakorn, head of the Trade Policy and Strategy Office, said at a media briefing.
Exports, a key driver of Southeast Asia's second-largest economy, rose 1.1% in September from a year earlier, compared with a forecast 2.85% increase in a Reuters poll. Imports increased 9.9% in September from a year earlier, higher than a forecast increase of 6.0% in the poll.
That resulted in a trade surplus of $0.39 billion in September, smaller than the forecast of $1.54 billion surplus.
In the first nine months of 2024, exports rose 3.9% from the same period in 2023, while imports were up 5.5%, resulting in a trade deficit of about $6 billion for the period.