Thailand’s August exports fall further than expected
Some more lumpy economic news for Thialand as the focus is on the monthly customs clearances to provide a compass for the country’s economy.
Customs-cleared exports dropped in August 4% compared to the same month a year earlier. Exports unexpectedly rose in July, according to the commerce ministry today.
The decline in August has shown itself to be greater than a Reuters poll forecast of a 2% fall in exports and shipments, the main driver of the Thai economy, and this compared with an increase of 4.28% in July.
Back in May, when there was a plunge of 5.8% in the exports, the Ministry said…
“The Commerce Ministry says in their report today that the contraction is mostly influenced by global factors including ongoing trade tensions between US and China and tighter global financial conditions, and specific factors of each country and region, political uncertainty in the EU and the unresolved Brexit in the UK.”
We guess their response on the August figures will be much the same. Read that story HERE.
