Thailand's exports rebound in April

BANGKOK - Thailand's exports rebounded to growth in April due to improved demand for industrial products, which aligned with global economic recovery and easing inflation, official data showed on Thursday.

Exports, a key driver of the Southeast Asian country's economic growth, jumped 6.8 percent last month from a year earlier to $23.27 billion, a sharp bounce from the 10.9-percent plunge in March, according to data released by the Ministry of Commerce.

A breakdown of the data revealed that exports of industrial products surged 9.2 percent from a year earlier in April, mainly thanks to increases in automotive product and computer, equipment and parts shipments, while agro-industrial goods expanded by 12.7 percent.

Agricultural product shipments declined 3.8 percent year on year in the cited month, despite robust growth in rice and rubber exports, with 91.5 percent and 36.2 percent gains, respectively.

The data also indicated that Thailand's imports increased 8.3 percent from a year earlier to $24.92 billion in April, resulting in a trade deficit of $1.64 billion.

For the first four months of 2024, exports rose 1.4 percent to $94.27 billion, while imports picked up 4.9 percent to $100.39 billion, yielding a trade deficit of $6.11 billion.

Looking ahead, volatile weather conditions would drive up agricultural prices and demand for food security, while geopolitical uncertainties remain factors to be monitored, the ministry said in a statement.

Exports are expected to rise by 0.8 percent to 1 percent in the second quarter of 2024, said Poonpong Naiyanapakorn, director general of the commerce ministry's trade policy and strategy office.

The ministry maintains its target for export growth of 1 to 2 percent this year, Poonpong told a news conference.

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