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Thai Exports Slump 14.2 Percent in July.

Bangkok Post (Bangkok, Thailand)

| September 02, 2001 | COPYRIGHT 2001 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Sep. 2--Exports in July totalled $5.143 billion, a drop of 14.2 percent from the year before, continuing a trend that is dragging down economic activity, according to the Bank of Thailand.

Atchana Waiquamdee, senior director of the Monetary Policy Group, said activity in manufacturing, agriculture and fisheries all posted declines in July because of the global economic slide.

But she cautioned that the July export decline, the largest of the year to date, was from a high base last year.

The fact that electronics represented a relatively small share of overall exports helped cushion the impact of the sharp drop in global IT demand.

The central bank projects a 4 percent fall in exports this year, despite a pickup in the fourth quarter. The Thailand Development Research Institute expects a 6.9 percent fall to $63.46 billion.

July imports totalled $5.146 billion, resulting in a deficit of $3 million for the month. Oil, consumer goods, intermediate products and raw materials all posted declines.

The Commerce Ministry said that exports from January to July totalled $38.1 billion, down 2.3 percent year-on-year.

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