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27 Jun 2008

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Thailand-Taiwan Trade, 2008: Sluggish Exports Driving up Deficit (Business Brief No.2211)

Thailand-Taiwan trade in 4M08 showed a higher trade deficit for us than last year. The main cause of this deficit is the fact that Thailand simply imported more from them than we exported. As a result, Thailand ‘s trade deficit with Taiwan in 4M08 surged to USD 1.151 billion, up 94.19 percent over the USD 593 million during the same period of 2007. This might be due in part to the impact of the US sub-prime mortgage market crisis, coupled with tougher competition from China and an unfavorable exchange rate on the Baht continuing from 2007. On the other hand, the value of Thailand's imports from Taiwan grew somewhat due to an upward trend in commodity, farm produce and oil prices.

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