With US$24.3-bn exports, May sees eighth month of contraction

However, Thai exports contracted less than the previous month and exceeded the five-year average in May, driven by an eight-month expansion in industrial products such as electronics, including semiconductors, transformers, and more, vehicles and components, and electrical appliances, such as air-conditioners, while major markets such as the US, Asean and the European Union have resumed expansion. Thai exports in the first 8 months fell by 5.1%, or by 2.1% if oil-related goods, gold and military-related supplies are excluded, ministry data showed.

Agricultural exports and agro-industrial products declined by 16.3% over a four-month period. However, some products have seen exports expand, such as refined sugar, rice, beverages, fresh chilled and frozen chicken. Products whose sales have contracted are fresh fruits, chilled and frozen fruits, palm oil products, rubber, animal feed,…