EU Economic Crisis Curtails Exports From Thailand
Executive Summary
Exports from Thailand to EU countries fell more than 29% from January through April, but an uptick in May cut the deficit to 10% after five months.
Effects of the European economic crisis have stretched all the way to Thailand, where the government says the country’s auto exports to the European Union fell during the first four months of this year.
Federation of Thai Industries Automotive Industry Club spokesman Surapong Paisitpattanapong says shipments to Europe fell more than 29% from January through April, compared with year-ago.
However, the government’s Thai National News Bureau says an increase in exports in May cut the deficit to 10% after five months.
The bureau quotes Surapong as saying the club estimates the combined EU markets will represent about 6.5% of Thailand’s total auto exports in 2012, or about 65,000-70,000 units out of the export target of 1 million.
