Exports Slumped In July, Dragged By Weak Auto, E&E Orders

Economic Research	29 August 2016
Thailand
Economic Highlights
Exports Slumped  In July, Dragged By Weak Auto, E&E Orders Thailand’s exports contracted 4.4% y-o-y in July, slipping from a 0.1% fall the month before. The acceleration in decline was broad-based, with both agricultural and industrial export growth turning negative. The former was dragged by heavy declines in demand for rice, raw rubber, and sugar, while the latter was weighed down by dismal automotive and electronics & electrical appliances (E&E) shipments. Exports of non-treasury gold continued to prop up the headline figure, surging 457.1% y-o-y in July. Excluding gold, exports fell 10.3% y-o-y, accelerating from -3.5% the month before. Economist:  Ng Kee Chou  | +603 9280 2179
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