Thailand’s Exports Increase 20.27% in July from Year Earlier

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BANGKOK (NNT) – Thailand’s Ministry of Commerce has reported that exports in July rose more than expected, with an increase of 20.27% from a year earlier, as global demand improves.

Commerce Minister Jurin Laksanavisit said on Monday that this compares with a forecast for a rise of 19.7% in July, in a Reuters poll, and after a rise of 43.82% in June, but Thailand’s biggest coronavirus outbreak to date and movement restrictions are likely to impact shipments in August and September.

He said the lockdown measures may have impacted the manufacturing sector, while the outbreak is increasingly affecting factories and worsening a labor shortage, threatening exports at a time of stronger global demand and a weaker baht.

According to the Commerce Ministry, exports from the real sector rose by 25.38% year-on-year. Industrial goods account for about 80% of exports which, in July, were led by stronger shipments of vehicles and auto parts as well as computers and components. Demand from key markets was higher in July, with exports to the United States, China, Japan and the European Union.