Exports declined by 5.5 per cent from the same period last year, marking the ninth consecutive monthly contraction. From January to September, the cumulative export value contracted by 5.0 per cent. Exports to some major countries such as Japan, China and the United States contracted again. Key reasons remain the poor terms of trade for agriculture exports, the slowdown in external demand and low oil prices in the world market. The slowdown of the Chinese economy rippled across other Asian economies as well as other commodity exporters, and thus caused Thailand's trading partners demand to plummet. At the same time, Thailand's export prices for oil-related products also declined with falling oil prices, while some other merchandise saw price reduction because of a bargaining by trading partners. However, the Commerce Ministry maintained the forecast that the full-year exports should contract by 3 per cent.