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Article: United States: Thailand Posts Biggest Trade Deficit in Three Months.
- Article from:
- TendersInfo
- Article date:
- August 22, 2008
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Byline: sander03
Thailand posted its largest trade deficit in three months as record oil prices increased the nations import bill.
The shortfall in July was $1.03 billion, Siripol Yodmuangcharoen, the Commerce Ministrys permanent secretary, said in Bangkok today. That was the biggest since April and compared with a trade surplus of $628 million in June.
Thailand has promoted the use of energy from domestic sources such as ethanol, biodiesel and natural gas to reduce fuel imports after crude oil climbed to an all-time high of $147.27 a barrel last month. Price subsidies for some fuels including liquefied petroleum gas also increased local demand ...