BANGKOK, Oct. 24 (Xinhua) -- Thailand's exports expanded for the second straight month in September due to increased shipments of agricultural and agro-industrial products amid slowing global demand, official data showed on Tuesday.
Exports, a key driver of the Southeast Asian country's economic growth, rose 2.1 percent last month from a year earlier to 25.47 billion U.S. dollars, according to data released by the Ministry of Commerce.
A breakdown of the data revealed that Thailand's export of agricultural products jumped 17.7 percent year on year, from a 4.2 percent increase in the previous month, while agro-industrial goods expanded 5.4 percent year on year, rebounding from a 7.6 percent fall in August.
Notably, rice shipments saw significant growth in South African and Indonesian markets.
However, recovery of key markets such as the U.S., Japan and the European Union remained sluggish, partly due to the ongoing geopolitical risks, international conflicts, and prolonged high interest rates, which contributed to the slowing of global demand, the ministry said in a statement.
Industrial product shipments shrank 0.3 percent from a year earlier, down from a 2.5 percent increase in the previous month, despite notable growth in automotive and electronics products.
The data also indicated Thailand's imports plunged 8.3 percent from a year earlier to 23.38 billion dollars in September, resulting in a trade surplus of 2.09 billion dollars.
For the first nine months of the year, the kingdom's exports fell 3.8 percent from a year earlier, while imports dropped 6.0 percent, yielding a trade deficit of 5.83 billion dollars, according to the ministry.
The ministry expects Thai exports to increase steadily in the final quarter of the year owing to stable demand for food security, coupled with an upswing in the service and tourism sectors during the year-end festive season, which is anticipated to boost shipments of agricultural and food products. ■
