Thailand’s auto exports fell for a fifth straight month in March, plunging 39% year-on-year as overseas demand slumped.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Thailand exported 44,742 cars and trucks worth a total of 19.84 billion baht last month, down 39% in value compared to last year, the Federation of Thai Industries said.
“Our exports in March fell in all zones except the Middle East,” said Surapong Paisitpatanapong, the group’s spokesman, according to AFP.
Exports to Europe, Australia, Central and South America as well as the Asian market all fell by more than 50%.
Surapong told AFP there were nevertheless some good signs for the industry.
“We believe exports will improve in April because our foreign clients are likely to need to replenish their stock around now,” he said.
Adisak Rohitsune, vice chairman of the Federation of Thai Industries said the decline in exports had been worse than expected.
“We need to monitor the data in April and May closely and may have to revise our projection for this year,” he said.
The federation has predicted that overseas shipments for 2009 will be down 25%.
