Thai Exports Rise 8.2% In November, Narrowing Trade Deficit
Thai Exports Rise 8.2% In November, Narrowing Trade Deficit
Manufactured products contributed significantly to the export growth, climbing 9.5% YoY. This was driven by higher purchases of electrical equipment (+13.8%) and electronic machines (+9.6%). However, exports of semiconductors, transistors, and diodes experienced a steep decline of 71.5%, while exports of motor vehicles and related components contracted slightly by 0.3%.According to the commerce ministry, Thailand's customs-cleared exports increased by 8.2% year-on-year (YoY) in November. This figure aligns closely with analysts' expectations of an 8.4% rise, as indicated in a Reuters poll, but marks a slowdown from October's robust 14.6% growth. The ministry also reported a 5.1% rise in exports for the first 11 months of 2024, with a forecast of 5.2% growth for the entire year. This is cited by MIDF Amanah Investment Bank Bhd (MIDF Research) in their report today.
根据商务部的数据，泰国11月份的清关出口同比增长8.2％。路透社民意调查显示，这一数字与分析师对8.4％的涨幅的预期非常吻合，但与10月份的14.6％强劲增长相比有所放缓。该部还报告称，2024年前11个月的出口增长了5.1％，预计全年将增长5.2％。MIDF Amanah投资银行有限公司（MIDF Research）在今天的报告中引用了这一点。
The growth in exports, a key driver of Southeast Asia's second-largest economy, has been accompanied by a moderation in imports, which rose by 0.9% in November compared to 15.9% in October. This disparity led to a significant narrowing of the trade deficit, contracting by 71.6% year-on-year to US$224.4 million.
出口增长是东南亚第二大经济体的关键驱动力，同时进口也有所放缓，11月份进口增长了0.9％，而10月份为15.9％。这种差异导致贸易逆差大幅缩小，同比收缩71.6％，至2.244亿美元。
Agricultural exports saw a 4.1% increase in November, supported by strong demand for fresh, chilled, frozen, and dried fruits (+44.8%), pet foods (+18.1%), and canned and processed fruits (+24.6%). Agro-industrial exports also rose by 7.7%, maintaining a positive trajectory.
受新鲜、冷藏、冷冻和干果（+44.8%）、宠物食品（+18.1%）以及罐装和加工水果（+24.6%）的强劲需求支撑，11月份农产品出口增长了4.1％。农产工业出口也增长了7.7％，保持了积极的发展势头。
Manufactured products contributed significantly to the export growth, climbing 9.5% YoY. This was driven by higher purchases of electrical equipment (+13.8%) and electronic machines (+9.6%). However, exports of semiconductors, transistors, and diodes experienced a steep decline of 71.5%, while exports of motor vehicles and related components contracted slightly by 0.3%.
制成品为出口增长做出了重大贡献，同比增长9.5％。这是由电气设备（+13.8％）和电子机器（+9.6％）的购买量增加所推动的。但是，半导体、晶体管和二极管的出口急剧下降了71.5％，而汽车和相关零部件的出口则小幅收缩了0.3％。
Geographically, shipments to the US (+9.5%), China (+16.9%), and the EU (+11.2%) showed strong growth. In contrast, exports to Japan (-3.5%) and ASEAN countries (-1.5%) declined, reflecting uneven demand across regions.
从地理位置来看，对美国（+9.5％）、中国（+16.9％）和欧盟（+11.2％）的出货量显示出强劲的增长。相比之下，对日本（-3.5％）和东盟国家（-1.5％）的出口下降，这反映了各地区的需求不均衡。
While Thailand's export performance continues to rebound, MIDF Research predicted that geopolitical tensions and rising trade protectionism remain risks to the trade outlook. Despite weaknesses in Thailand's semiconductor exports, Malaysia's trade prospects may benefit from the sustained recovery in the electrical and electronics sector, supported by the positive performance of the semiconductor industry globally.
尽管泰国的出口表现继续反弹，但MIDF Research预测，地缘政治紧张局势和不断上升的贸易保护主义仍然是贸易前景的风险。尽管泰国的半导体出口疲软，但在全球半导体行业的积极表现的支持下，马来西亚的贸易前景可能会受益于电气和电子行业的持续复苏。
