JOC Staff | Oct 25, 2012 2:56PM EDT
Thailand’s exports expanded by 0.2 percent year-over-year in September.
Analysts had predicted a monthly decline, because the Thai economy is highly dependent on struggling markets for its auto and high-tech exports.
Exports to Europe continued to flounder, down almost 13 percent compared to a year earlier. This followed a 23 percent year-over-year drop in August.
Exports to the U.S. contracted 1 percent last month.
Exports to China were also down 14.7 percent, according to customs data, but gold and precious stone exports to Switzerland were 10 times higher than a year earlier, helping boost the overall figures.
Thai government ministers now predict a 5 percent increase in exports for the year despite a slight decrease over the first three quarters of 2012. The late rebound is expected because of the collapse in exports due to floods in late 2011.
Ministers had originally expected exports to grow 15 percent this year.
