BANGKOK: Thailand’s Customs-cleared annual exports rose for a 10th straight month in December, but at a slower pace than the previous month and below expectations, and the country posted its first trade deficit in five months, Reuters reported. Exports, a key driver of Thailand’s growth, increased 8.6 per cent in December from a year earlier after jumping 13.4 per cent in November, Commerce Ministry data showed yesterday. That missed the median forecast of a 10.65 per cent rise from economists polled by Reuters. Imports in December rose 16.6 per cent from a year earlier after increasing 13.7 per cent in November, and more than the forecast of a 10.35 per cent rise. Last year, exports grew 9.9 per cent, while imports jumped 14.71 per cent, giving a trade surplus of US$13.9 billion, Commerce Ministry official Pimchanok Vonkhorporn said at a briefing.The ministry expects 2018 export growth of 5 to 7 per cent. In a research note, UOB said that for this year, it expects Thai exports will expand by 5 per cent owing to the high-base effects despite continued recovery of the global economy supporting a pickup in demand for main manufacturing and agricultural products.
Shippers see temporary lull in exports
Shippers expect the coronavirus outbreak to have the greatest effect on farm product exports, notably fresh fruits and vegetables, with...