Thailand’s exports down for fourth consecutive month
The value of exports, the main driver of Thailand’s growth, dipped for the fourth month in a row in January due to slowing global demand, according to the Ministry of Commerce.
Bangkok (VNA) – The value of exports, the main driverof Thailand’s growth, dipped for the fourth month in a row in January due to slowing global demand, according to the Ministry of Commerce.
The ministry on March 2 cited data from the Thai CustomsDepartment, saying that the exports fell 4.5% year-on-year to 20.2 billion USD, whileimports increased by 5.5% in January to 24.8 billion USD, resulting in a tradedeficit of 4.64 billion USD.
The ministry predicted that the slowdown inconsumption and the global economy, alongside relatively high inflation, willinevitably affect exports during the remaining months of this year.
Phusit Ratanakul Sereroengrit, Director-Generalof the International Trade Promotion Department, said at a press conference onthe same day that the country's exports in the first quarter of this year are stillexpected to be negative, partly due to the high base from the same period oflast year.
The ministry still aims for export growth of 1-2%for the whole of this year, compared with a 5.5% increase in 2022, according toPhusit.
According to Chaichan Chareons🐻uk, Presidentof the Thai National Shippers' Council (TNSC), there are some positive signsfor exports, especially the recovery of the Chinese market - the major importer of Thailand, and this willboost demand for Thai shipments./.
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Illustrative image (Photo: //www.thestar.com.my/) 
