Thailand’s exports increased at a slower pace in August than the previous month, as the government tightened restrictions affecting production and logistics systems.
As announced by Thailand’s Commerce Ministry, settled exports in August grew 8.39 percent year-on-year to US$22 billion, while imports rose 47.9 percent to US$23.2 billion, resulting in a trade deficit of US$1.22 billion.
This is the sixth consecutive monthly increase in the Southeast Asian country’s exports, following growths of 20.3 percent in July, 43.8 percent in June, 41.6 percent in May, 13.1 percent in April and 8.47 percent in March.
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In the first eight months of this year, Thailand’s overseas shipments grew 15.3 percent to total US$177 billion, while imports rose 31 percent to US$176 billion, leading to a trade surplus of US$1.41 billion.
Thai Commerce Minister Jurin Laksanawisit said the slower growth in August was mainly due to government crackdowns that forced some factories to close and affected the country’s overall logistics system.
-Thailand News (TN)