Thai exports plunge for first time in two years

Thailand exports in November dived for the first time in more than two years because of the kingdom's devastating recent flooding, government data showed Tuesday. Exports dropped 12.4 percent for the month from a year earlier to $15.49 billion, the first plunge since October 2009.
"Most of our exports in November dropped, especially the industrial products which were affected by the floods," said the deputy minister of commerce Siriwat Kajornprasart. Imports declined 2.4 percent to $16.87 billion, which resulted in a $1.37 billion trade deficit in November. Many of the companies located in Thailand's industrial heartland have said it will be several months at least before their operations return to normal. Investor confidence in the kingdom is likely to take even longer to recover.