Shipment contraction thins again
October shipments down 3.9% year-on-year
Exports are showing signs of recovery, with September’s reading continuing the narrowing trend of recent months.
The Commerce Ministry reported on Thursday that customs-cleared exports fell 3.9% year-on-year in September, fetching $19.62 billion, while imports declined 9.1% to $17.39 billion, resulting in a trade surplus of $2.23 billion.
“Despite the contraction, the September figures remained a good sign, as higher shipments stemmed from product items in real sectors, not from gold,” said Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office.
The global manufacturing purchasing managers’ index (PMI), which stood above 50 for the third straight month, suggests a better recovery…