At last ! A Green Shoot…
And, obviously -8,5 % in september (year on year) is better than the -25 % we had in july.
The Commerce Ministry has released the first data for exports in september : 14,99 billions USD.
Imports fell 17,9 % at 12,92 billions USD.
The Bank Of Thailand will publish the details on october 31.
A classic comment (from an economist in Singapore), in line with the doxa.
When base effects kick in in November, we will probably see stronger headline numbers. Exports will continue to get better. (Forbes)
Base effect… In november last year exports in value dropped like a stone. Therefore, the % of difference with november 2009 is likely to be less “uggly”.