By Nopparat Chaichalearmmongkol
BANGKOK--Thailand's trade surplus fell in October, with exports swinging to a contraction while imports continued to expand, said the Commerce Ministry on Monday.
According to raw customs data, Thailand registered a trade surplus of $248 million in October, compared with $2.5 billion in the preceding month.
Exports fell 4.2% year over year to $17.78 billion in October after a 6.4% rise in September. Imports rose 6.5% year over year to $17.53 billion last month after a 5.6% gain in September.
Pimchanok Vonkhorporn, deputy director of the ministry's Office of Trade Policy and Strategy, told a news conference that the latest drop in exports was because of lower oil-product and gold prices as well as a high base of comparison.
Ms. Pimchanok said that she believes the country's exports still might finish the year with a small gain. An expected increase in U.S. interest rates next month and the outcome of this week's meeting of the Organization of the Petroleum Exporting Countries will likely have an impact on Thailand's trade outlook, she said.
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(END) Dow Jones Newswires
November 28, 2016 00:50 ET (05:50 GMT)
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