Thai export growth is expected to reach just over 1 percent this year
after consecutive decline recorded in the third month in March.
Export
forecast use to be projected earlier by 4 percent, however, the
country’s Commercial Ministry had to readjust due to a decline of 4.45
percent year on year last month to 18.9 billion USD.
For the
first quarter of the year, Thai exports totalled 53.36 billion USD, down
by 4.69 percent from a year earlier, whilst imports also dropped 6.43
percent, to 51.93 billion USD. A trade surplus was 1.43 billion USD in
the January-March period.
Lowering export target now is more in line with other economic agencies’ growth projections, which range from 0-1.4 percent.
Thai
exports in the period faced a spate of negative factors related to
foreign exchange, falling global farm prices, a rise in non-tariff
barriers by several importing countries, unrest in North Africa and
self-sufficiency policies launched by several Middle East countries,
according to the ministry.
It is expected that the full year exports may reach 230 billion USD, the ministry said.-VNA