(MENAFN- QNA) Thailand's exports declined 7.4% to US$18.94 Billion in August, the lowest in 32 months due to the lack of recovery in the global economy and lower-than-expected demand.
The country's Commerce Ministry attributed the decline in exports due to lower prices of many farm crops and a drop in the shipments of gold and fuel.
The exports in the first eight months of this year contracted 1.36% year-on-year to US$150.54 Billion, it said.
The ministry believes exports would definitely miss the projection of 3.5% growth for the full year. Instead, the exports were expected to grow by only 0.5-one per cent for the whole year.
Among its agriculture commodities, Thailand's rubber exports dropped by 20% to US$4.21 Billion in the first eight months, sugar, -22.4% to US$1.79 Billion) and shrimps, -17.3% to US$1.07 Billion.
The country, however, still enjoyed a trade surplus of US$1.14 Billion in August and US$280.8 Million in the eight-month period despite lower exports.
Thai imports in August declined 14.17% to US$17.79 Billion, and for the eight-month period was down 12.69% to US$150.26 Billion.
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