BANGKOK, NNA – Thailand’s exports in September marked the first year-on-year drop in 19 months, hit by slower exports to China amid U.S. trade disputes and due to the base effect.
Thai shipments to the world fell 5.2 percent on year to $20.7 billion last month, dragged down by a 14.1 percent decline to $2.18 billion in exports to China and in payback for a sharp rise in overall exports a year before, according to the Ministry of Commerce.
However, in the first nine months of this year, Thailand’s exports gained 8.1 percent on year to $189.7 billion, in line with the government target of an 8 percent increase for the year.
Deputy Prime Minister Somkid Jatusripitak said the world economy is showing a downward trend.
Somkid also said the drag from the Chinese economic slowdown on Thai exports and tourism is expected to continue next year, the Bangkok Post reported on Tuesday.
The Thai government foresees a slowdown in exports toward the end of the year as the U.S.-China trade dispute is feared to weigh on global trade and investment.