July export contraction less severe than June, helped by auto exports

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BANGKOK, 28 August 2015 – Exports continued to decline in July due to effects from the global economic slowdown, although the severity of decline was significantly less than that of the previous month.

According to the Ministry of Commerce, the export value in July was 18.223 billion USD, 3.56% lower on-year. The decline was less steep than the 7.87% contraction seen in June, buoyed by recovering exports of automobiles and parts. Automobile exports to Australia, Mexico and Philippines grew 77.5%. In the meantime, products with dependency on the oil price and farm products continued to see diminished value in accordance with the prices in the global market.

According to the commerce ministry, Thailand’s exports contraction amid the global slowdown was less severe compared to other countries’. Thailand has also been able to maintain its market share in important trading partners such as Japan, the United States and China.