December 23, 2019 / 4:08 AM / a month ago

Thai November exports drop 7.39% year-on-year, worse than forecast

FILE PHOTO: A view of the Port of Bangkok, Thailand, March 25, 2016. Picture taken March 25, 2016. REUTERS/Athit Perawongmetha

BANGKOK (Reuters) - Thailand’s customs-cleared exports in November fell 7.39% from a year earlier, after falling 4.54% the previous month, the commerce ministry said on Monday.

November’s export numbers came in worse than a Reuters poll forecast for a decrease of 4.5% in shipments, a main driver of Thai growth. [nL4N28T1BK]

Shipments to China rose 2.3% in November from a year earlier, while those to the United States dropped 2.6%, a ministry official said.

Imports in November contracted 13.78% from a year earlier, after falling 7.57% the previous month. The poll had forecast a fall of 6.8% in imports last month.

November’s trade surplus amounted to $0.55 billion, versus a forecast for $0.19 billion deficit, and October’s surplus of $0.51 billion.

In January-November, exports contracted 2.77% from a year earlier and imports fell 5.22% during the period.

Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Muralikumar Anantharaman

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