Analyst Pin-board Export growth will remain high in 3Q22 due to low base effects
- Key export items grew by over 20% in 1H2022.
- Export growth will remain high in 3Q2022.
- The slowdown of commodity prices will support the trade balance in 2H2022.
Key export items grew by over 20% in 1H2022
Export growth in Jun was attributed to key export groups such as electronics (+5.9% mom and 29.9% yoy) or textiles (+13.1% mom and up 16.8% yoy) and footwear (+12.0% mom and 19.1% yoy). In addition, items have high growth rates such as fertilizers, rubber, machinery & equipment and spare parts. Meanwhile, export trends are less optimistic for seafood with a gradual decrease in export turnover in 2Q2022 albeit recording a high yoy growth, or wood and wooden products (down 10.9% yoy) and means of transport (down 4.8% yoy).
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