Thailand
Thailand Economics
Thai Exports Slow | Thai Exports Slow |
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| Thursday, 23 August 2007 | |
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The strength of the Baht together with slowing global demand took a toll on Thailand's exports, following surprisingly strong growth in the first half of 2007. Commerce Ministry figures revealed a meager 5.9% increase over July 2006 numbers to US$11.8 billion for the month. In addition to a 13.6% drop in exports to the US from July 2006, exports also fell by 25.4% with Singapore and 22.3% with Taiwan. The drop prompted surprise from Commerce Minister Krirk-krai, "[i]t is unusual that exports show slowing in July after 18.6% growth in the first half of this year," adding that the Ministry would continue to closely monitor the situation to see if exports "were really affected by the stronger Baht."
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