Thailand exports fall slightly in August

BANGKOK Thailand's exports fell slightly less than expected in August, as global demand for food products increased, but oil-related shipments fell and exports to China fell, the commerce ministry said on Monday.

Commerce Minister Jurin Laksanawisit told a news conference that exports rose 11.0 per cent from January-August, more than double the same period a year ago, exceeding the ministry's full-year target of 4 per cent to 5 per cent growth.

Tourism has just started to recover, and exports should still be good for the rest of the year, he said.

The ministry said that global demand for food will increase later this year and food prices will remain high, but global risks, including high inflation and China's slowdown, may put downward pressure on the world economy.

It said in August farm and agro-industrial products exports rose 4.6 per cent year on year, but oil-related goods fell 11.4 per cent.

Among the key export markets shipments to the United States increased 16.3 per cent from a year ago, and those to Southeast Asia increased 19.1 per cent. Shipments to China fell 20.1 per cent year on year.

The ministry said that August imports surged 21.3 per cent from a year earlier, more than forecast, with a trade deficit of $4.2 billion in the month.