BANGKOK: Thailand's exports and imports unexpectedly rebounded in September, a rare piece of good news for the military government which is struggling to revive the economy after seizing power in May.
The Southeast Asian country's exports have been struggling at a time when other Asian exporters have started to reap from a recovering US economy and a spurt in global demand for smartphones and other tech goods.
Exports, which are equal to more than 60 percent of the Thai economy each year, rose 3.19 percent from a year earlier, the Commerce Ministry said on Tuesday, compared with a 0.25 percent drop in a Reuters poll.
In August, annual exports declined 7.4 percent, the most since devastating flooding in late 2011.
Shipments to all key markets were higher, except China, boosted by signs of recovery in key markets.
Exports to Japan rose 1.4 percent in September from a year earlier, and were up 6.2 percent to the United States, 4.5 percent to Europe and 8.8 percent to ASEAN countries. Imports rebounded after 14 straight months of decline, jumping 14.42 percent and handily beat the 6.90 percent fall estimated by economists.
Imports fell 14.17 percent in August.
The ministry said imports totalled $21.7 billion, the highest in 16 months, and were boosted by aircraft, gold, steel and oil. The Bank of Thailand last month cut its export growth forecast to zero from 3 percent but said the economy could still grow 1.5 percent, hoping that government spending will help.
The trade data is one bright spot for Southeast Asia's second-largest economy that is grappling with weakness in domestic demand.
Recent data has added pressure on the junta to take more action to shore up the economy, which shrank in the first half. Earlier this month, the government announced plans for stimulus measures worth 364 billion baht ($11.2 billion) focusing on creating jobs and helping farmers in its latest effort to revive the economy hurt by the turmoil.
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