Thai Oct exports drop 4.54% y-o-y, worse than forecast

[BANGKOK] Thailand's customs-cleared exports fell in October for a third straight month, down 4.54 per cent from a year earlier, after falling 1.39 per cent the previous month, the commerce ministry said on Thursday.

October's export numbers came in worse than a Reuters poll forecast for a decrease of 3.7 per cent in shipments, a main driver of Thai growth. Shipments to China contracted 4.2 per cent in October from a year earlier, while those to the United States were up 4.8 per cent, a ministry official said.

Imports in October dropped 7.57 per cent from a year earlier, after falling 4.24 per cent the previous month. The poll had forecast a fall of 6.6 per cent in imports last month.

October's trade surplus amounted to US$0.51 billion, versus a forecast for US$0.4 billion, and September's figure of US$1.28 billion.

In January-October, exports shrank 2.35 per cent from a year earlier and imports were down 4.09 per cent during the period. On Monday, the national planning agency predicted exports would contract 2 per cent this year, exceeding a decline of 1.2 per cent projected earlier.

REUTERS