BANGKOK, 21 September 2019 (NNT) - The global economic slowdown, the trade war between China and the United States, tension in the Middle East and the continuous appreciation of the baht made the value of Thai August exports plunge by four percent to 21.91 billion US dollars. Meanwhile imports fell 14.62 percent at 19.86 billion US dollars in the balance of trade.
Ms. Phimchanok Wornkhornphorn, Director of the Office of Trade Policy and Strategy, Ministry of Commerce, said today that from January to August, the export value totaled 166.09 billion US dollars, down by 2.19 percent.
However, the Ministry of Commerce still says in the last quarter of this year, if the average export value reaches 21billion US dollars per month, the total export value for the year will not have gone down. Previously, the Ministry of Commerce expected Thai exports to grow by three percent or 23.6 billion US dollars a month. However, it might be difficult to reach that target due to many factors which are still not very supportive. She expressed her belief that the guidelines of cooperation between the government and the private sector will be able to maintain the export base.