Thai exports unexpectedly dropped in October, with a 4% fall according to official figures vs. 2% expected. The government has pointed to lower oil and gold exports as the reason, though reduced activity resulting from the passing of the King may also be possible. Exports to the U.S. by sea (Thailand’s biggest single target market) increased 17% in volume terms, Panjiva data shows, driven by higher value-to-volume items including printers. This suggests significant price cuts were made to win market share.