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Monday, October 3, 2022

Shipment contraction thins again

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…

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