The Nation



November exports contract 4.08%

Slower-than-expected recovery in the global economy is blamed for the contraction in the November export value.

The Commerce Ministry’s data showed that export value in the month contracted by 4.08 per cent from the same period last year, to US$18.76 billion. The import value also fell by 8.60 per cent to $19.3 billion, resulting in trade deficit of $557 million.

In the first 11 months, Thailand’s export value contracted by 0.49 per cent to $210 billion, while import value expanded by 1.22 per cent on year to $231.997 billion. Trade deficit during January and November reached $21.9 billion.

The ministry attributed the monthly fall to the slower-than-expected global recovery as well as the high export base in November last year. Manufacturing goods, contributing 92 per cent of the total export value, also contracted by 3.26 per cent in November, despite a 1.70 per cent increase in the 11-month period.

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