But imports soar by 37%, bringing seven-month trade deficit to $34 billion
The value of Thai exports rose 21.6% in July from a year earlier, the Ministry of Commerce said on Thursday, higher than analysts’ expectations.The July reading compared with a forecast rise of 17.75% in a Reuters poll and followed a 20.8% increase in the previous month.
Imports rose 36.7% in July from a year earlier, resulting in a trade deficit of $3.61 billion for July and bringing the seven-month total to a record $34.35 billion.
Import growth has outpaced that of exports for most of this year, giving Washington more ammunition to back its case that Thailand is being used for transshipment of goods to the US from third countries, mainly China.
The ministry has forecast that exports will grow more than 11% for the year, up from a previous forecast of 8%., as demand rises for products related to technology and AI.
