Exports in May were down 4.6%.

February 2020 reveals a 5.1% drop in the first five months of this year, with a 4.6% drop in May, but still confident that the second half of the year will turn positive. Do not reduce the target for the whole year, export growth of 1.2%

Mr. Kirati Ratchano, permanent secretary of the Ministry of Commerce, revealed that Thai exports in May 2023 were negative 4.6% or valued at $ 24,340.9 million, imports were negative 3.4% or valued at $ 26,190 million. The trade balance remained negative at $1,849 million. Resulting in exports to Thailand for 5 months. (January-May) negative 5.1% or valued at 116,344.2 million US dollars. Import value was negative 2.5% worth 122,709 million US dollars. As a result, Thailand has a trade deficit for the first 5 months of 6,365 million US dollars.

“Export sales in May at -4.6%, considered an improvement from April which is -7.6%. We are less negative. and if compared to competitors You can see that most of them are negative by 2 digits, which is in line with the global economic trend. The remaining quarters of this year are expected to start to turn more positive, which the Ministry of Commerce plans to work with the private sector to penetrate markets such as southern China, ”said Mr. Kirati Ratchano, Permanent Secretary of the Ministry of Commerce.

The Ministry of Commerce Still maintaining the target of Thai exports this year at 1-2% and believes that in the second half of this year. The export situation is getting better. according to the direction of the world economy by making a detailed plan to push food and fruit and so on It is expected that the export numbers will improve.

Source: Thai News Agency