Thailand’s exports fell for the fourth consecutive month in November, mainly due to lower prices of oil and agricultural products, a slowdown in the world economy, the US-China trade tensions, and rising baht.
Bangkok (VNA) – Thailand’s exportsfell for the fourth consecutive month in November, mainly due to lower pricesof oil and agricultural products, a slowdown in the world economy, the US-Chinatrade tensions, and rising baht.
According to the Ministry of Commerce, thecountry’s total export turnover in November was estimated at only 19.7 billionUSD, down 9.39 percent from the same period last year, after respectivedeclines of 4 percent, 1.4 percent, and 4.5 percent in August, September, andOctober 2019.
Exports to most trading partners declined,except for the US (up 1.4 percent), Taiwan (up 6.5 percent, Hong Kong (up 2.6percent), and China (up 2.3 percent).
The Bank of Thailand (BoT) has loweredthe country’s economic growth forecast to 2.5 percent in 2019 and 2.8 percentin the next year due to heightened external risks.
Exports, a key driver of economic growth, arenow projected to shrink 3.3 percent this year, compared with a 1 percent fallseen earlier. Next year's exports are expected to rise by a smaller 0.5percent, rather than 1.7 percent./.
Thailand' rice exports in July 2014 surged to record high in three years after almost one million tons of rice were shipped out, according to the Rice Exporters Association of the country.
ASEAN is now the largest importer of Thailand’s food and agricultural products, accounting for one-fourth of the country’s total trade with the world market (about 1 trillion THB) in terms of these products.
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Rice exports of Thailand in 2018 will be less than the target growth of 9.5 percent due to strong baht and decrease in rice production, said the Thai Rice Exporters Association (TREA).
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Illustrative image (Source: NNT) 
