BANGKOK: The overall export sector performance in October 2019 has lagged for the third consecutive year, resulting in a negative 4.54 percent growth, mainly due to the consequences of the trade war between the U.S. and China as well as lower oil prices.
The overall export sector performance in the first 10 months of 2019 remained negative.
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The Thai export sector in October 2019 was valued at 20.76 billion US dollars, a 4.54 percent deficit due to a 25 percent decrease in the oil price affecting the export of petroleum products.
The ongoing trade war between the U.S. and China still contributes to an economic slowdown among trading partners.
Thailand’s export to China have reduced by 4.2 percent, while exports to the EU, ASEAN, and CLMV countries have also seen a reduction.
The overall export figure in the first 10 months of 2019 was 207.33 billion US dollar, showing a 2.35 percent deficit.
