Signs of recovery of global exports in the last quarter

Editorial Staff

Signs of recovery of global exports in the last quarter

Global exports have shown signs of recovery in the last quarter of the year while 8% growth of exports in October.

Mr Keerati Rushchano, permanent secretary of the Commerce Ministry said global exports have shown signs of recovery in the last quarter of the year. There were positive signals in various key products, including computers, plastic pellets, rubber products, animal foods, furniture and components, among others. The growth was supported by the gradual recovery of demand during the year-end festive season.

The global average inflation rate started to decrease, albeit with persistently high interest rates. Indications suggested that stringent financial control measures, particularly in the United States, were nearing conclusion. Simultaneously, China's extensive economic stimulus measures began to yield results, manifesting in the recovery of consumption and investment figures within China. The situation in Israel and Hamas remained contained, with no significant impact on overall Thai exports.

Thai International trade in October amounted to 23.57 billion US dollars (841.36 billion baht), reflecting an 8 % growth.

Thai exports of real sector (excluding gold, oil-related products, and weaponry) grew by 5.4 %

Thai exports expanded more than expected, surpassing many countries in ASEAN.

Imports in October increased by 10.2 % to 24.41 billion USD, resulting in a trade deficit of 832.3 million USD.

For the first ten months of 2023, Thai exports decreased by 2.7 % to 236.64 billion USD while exports of real sector (excluding gold, oil-related products, and weaponry) decreased by 0.6%.

Imports decreased by 4.6 % to 243.31 billion USD, resulting in a trade deficit of 6.66 billion USD.

Export Products Thai exports of agricultural and agro-industrial products expanded by 9.3 % (YoY). The agricultural products increased by 12.3 %, while the agro- industrial increased by 5. 9 %.