BANGKOK, Dec. 25 (Xinhua) -- Thailand's exports expanded for a fifth successive month in November, driven by growth in technology-related goods and demand for agricultural and food products, official data showed on Wednesday.
Exports, a key driver of the Southeast Asian country's economic growth, rose 8.2 percent last month from a year earlier to 25.6 billion U.S. dollars, easing sharply from a 14.6 percent increase in October, according to the Ministry of Commerce.
The upturn was attributed to a robust shipment of manufacturing goods, bolstered by proactive adjustments from various countries to navigate new trade dynamics and geopolitical challenges, the ministry said in a statement.
Exports of agricultural products expanded 4.1 percent, despite a significant decline in rice shipments, while agro-industrial goods grew 7.7 percent.
Industrial product shipments increased 9.5 percent, marking its eighth straight month of expansion, owing to major increases in computer, air conditioning and rubber products.
The data also showed that imports inched up 0.9 percent year on year to 25.83 billion dollars in November, resulting in a trade deficit of 224.4 million dollars.
For the first 11 months of 2024, exports climbed 5.1 percent to 275.76 billion dollars, while imports picked up 5.7 percent to 282.03 billion dollars, yielding a trade deficit of 6.26 billion dollars.
Thailand's exports are expected to reach a new record high this year, exceeding 300 billion dollars, despite a slow global economic recovery and ongoing geopolitical conflicts, said Poonpong Naiyanapakorn, director general of the ministry's Trade Policy and Strategy Office.
Looking ahead, the kingdom's exports are projected to grow 2 percent to 3 percent in 2025 amid several challenges, including trade protection measures, potential global trade slowdowns, unresolved international conflicts, high interest rates and exchange rate volatility, Poonpong said. ■
