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Thailand's exports rise 8.9 pct in August

Christian Fernsby |
Thailand's exports, a key driver of the country's economic growth, rose 8.9 percent year on year in August, official data showed Friday.

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The growth eased from a rise of 20.3 percent registered in July, according to the Ministry of Commerce, which attributed the slower growth to lockdown measures that weighed on production and logistics.

During the first eight months of this year, the country's exports totaled 176.96 billion U.S. dollars, up 15.2 percent from one year earlier.

The United States, China and Japan were Thailand's top three export markets, with shipment in U.S.-dollar-denominated value to the three countries increased 20.6 percent, 27.9 percent and 13.5 percent year on year respectively during the January-August period.

Exports of manufactured products, including electrical equipment and auto parts, accounted for nearly 80 percent of Thailand's total exports and rose 14.4 percent year on year in the first eight months.

Shipment of agricultural products, which accounted for about 10 percent of the total exports, expanded 26.2 percent year on year for the January-August period.

Thailand's imports surged 47.9 percent from one year earlier in August, with the pace of increase also moderating from July's 45.9-percent growth. It led to a widening trade deficit of 1.22 billion dollars last month, according to the ministry.

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