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Thai exports fall 7.94% in August

The Trade Policy and Strategy Office (TPSO) has indicated that Thai export sector has improved for two consecutive months in August with a smaller than expected drop of 7.94%

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Thai exports fell by 7.94 per cent to US$20.21 billion in August from a year earlier, the Commerce Ministry said on Wednesday, a smaller than expected drop, according to Reuters.

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The Trade Policy and Strategy Office (TPSO) has indicated that the Thai export sector has improved for two consecutive months in August, after less-than-stellar months caused by the COVID-19 pandemic.

Reuters had forecast a drop of 12.05 per cent, after July’s exports fell 11.37 per cent year on year. The August figures signal a recovery after exports hit a low point with a 23.17 per cent drop in June.

In January-August exports contracted 7.75% from a year earlier, while imports tumbled 15.31%.

The recovery in August was driven by shipments of food, household appliances and Covid-19 protection such as rubber gloves, the global market for which has grown 125.9 per cent in the past nine months.

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