Exports surged 20.8% year-on-year to US$34.7 billion in June, driven by strong demand for industrial goods such as electronics, smartphones, electrical appliances, and automobiles and auto parts, says the Trade Policy and Strategy Office (TPSO).Exports of industrial products expanded by 25.1% in the month, marking the 27th consecutive month of growth.
Conversely, agricultural and agro-industrial product exports declined by 6.5%, though certain categories such as rubber, sugar, canned and processed seafood, pet food and processed chicken posted growth.
Exports of several major products declined, including fresh, chilled, frozen and dried fruit; wheat products and other prepared food; canned and processed fruit; beverages; animal and vegetable oils and fats; fresh, chilled and frozen chicken; and fresh, chilled and frozen shrimp.
Imports in June totalled $41.2 billion, a 50.3% increase, resulting in a trade deficit of $6.53 billion.
Nantapong Chiralerspong, director-general of the TPSO, said gold was the key driver of imports, surging 192% and accounting for 7.2% of total imports.
