BANGKOK, Oct. 28 (Xinhua) -- Thailand's exports expanded for a third consecutive month in September, thanks to continued growth in agricultural, agro-industrial and industrial product shipments, official data showed on Monday.
Exports, a key driver of the Southeast Asian country's economic growth, rose 1.1 percent last month from a year earlier to 25.98 billion U.S. dollars, slowing sharply from an increase of 7 percent in August, according to the Ministry of Commerce.
The increase in exports was driven by rising demand in the global market as key trading partners started to recover from inflationary pressures, while shipments of electronic and electrical appliances continued to expand due to cyclical trends and competitive pricing, the ministry said in a statement.
Exports of agricultural products edged up 0.2 percent despite robust growth in rubber and rice shipments, while agro-industrial goods grew 7.8 percent.
Industrial product shipments increased 2 percent, marking its sixth successive month of expansion, owing to major increases in computer, air conditioning and rubber products.
The data also showed that imports rose 9.9 percent year on year to 25.58 billion dollars in September, resulting in a second straight month of trade surplus of 394.2 million dollars, signaling positive economic stability and reflecting the strength of Thailand's export sector.
For the first nine months of 2024, exports climbed 3.9 percent to 223.17 billion dollars, while imports picked up 5.5 percent to 229.13 billion dollars, yielding a trade deficit of 5.96 billion dollars.
Thailand's exports are expected to continue their upward trend in the final quarter of the year despite ongoing geopolitical tensions, the appreciation of the baht currency and disruptions in agricultural output resulting from floods, said Poonpong Naiyanapakorn, director general of the ministry's Trade Policy and Strategy Office.
The prospect of more accommodative monetary policies, which are expected to boost global consumption, along with increased demand for Thai agricultural and food products during the year-end and tourism high seasons, are key positive factors, Poonpong told a news conference.
The ministry maintains its target for exports to grow between 1 percent and 2 percent this year after the kingdom's exports fell 1 percent in 2023. ■
