Business News
Thailand's exports sink in wake of massive floods
Dec 20, 2011, 9:56 GMT
Bangkok - Thailand's exports plunged November after floods in the central plains and parts of Bangkok shuttered thousands of factories, officials said Tuesday.
Deputy Commerce Minister Siriwat Kachornprasart said exports in November were valued at 15.5 billion dollars, a 12.4-per-cent decline compared with the same month in 2010.
Imports in November totalled 16.9 billion, down 2.4 per cent year-on-year, leaving Thailand with a trade deficit of 1.4 billion.
Siriwat attributed the dramatic fall in exports to the floods that swamped much of central Thailand since early October, forcing some 9,000 factories to close down.
Exports were hit by the closure of seven large industrial estates in Ayutthaya and Pathum Thnai provinces, a major manufacturing hub for key electronics, automotive and electrical appliances sectors.
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