Bangkok: Thailand has recorded export growth for a second straight month in September, when the revenue increased 2.1% month on month to 920.39 billion THB (25.48 billion USD).
The driving force behind the export growth was agricultural products, especially fruits like durian and mangosteen as well as rice, which saw a surge in demand in Sub-Saharan Africa and Indonesia. Demand for high-tech products like solar cells and mobile phones was also high, said Keerati Ruschano, Permanent Secretary of the Commerce Ministry.
In contrast, imports dropped by 8.3%, resulting in a trade surplus of 2.09 billion USD.
He noted the global manufacturing sector remained contracted in September, and recovery of main markets has yet to gain momentum. Geopolitical tension and prolonged high interest rates have also cast a shadow over global economic prospects.
Key export markets like China, the Association of Southeast Asian Nations (ASEAN) and South Asia continue showing signs of expansion though uncertainty remains due to global economic pressures.
Keerati expressed optimism about the export trend in upcoming months. Moreover, stability in food supply and heightened demand from the service and tourism sectors during the holiday season are expected to boost the export of agricultural and food products.
There are also plenty of growth opportunities in the realm of industrial goods in line with digital technology and clean energy trends, he said.
The Thai Commerce Ministry has collaborated closely with the private sector to promote trade activities, negotiate trade pacts, and monitor and respond to new risks arising from the Israel – Hamas conflict, which could have far-reaching implications for global trends in the future, the official added./.
Source: Vietnam News Agency