Monday, February 6, 2023

Thai exports contracted for the second consecutive month in November

The value of Thai merchandise exports in November was US$22,308 million, contracting -6%YOY (compared to the same period last year), continuing from -4.4% in October, marking the second consecutive month of contraction.

After 20 months of continuous growth compared to the previous month on a seasonally adjusted basis. November’s export figure recovered 2.5%MOM from a sharp contraction of -8.5%MOM in the previous month.

For the first 11 months of 2022, exports still expanded by 7.6% to $265 billion while imports rose by 16.3% to $280 billion, resulting in a trade deficit of $15 billion.

Major exports contracted in almost all groups. except cars and parts

The overall picture of exports by commodity group in November contracted in almost all groups, with

(1) agricultural products contracting by -4.5% continually from -4.3% in October. The export of rubber contracted significantly due to the decline in global demand during the COVID-19 crisis, while processed chicken Chilled and frozen chicken, fresh, chilled, frozen and dried fruits expanded well in this month.

(2) Agro-industrial products…

Thai exports contracted for the second consecutive month in November

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Thailand Business News is a comprehensive news service about Thailand with a business and financial perspective edited in Bangkok by Siam News Network

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