Exports, a main driver of the country's economic growth, dropped 4.5 percent in January from a year earlier to 20.24 billion U.S. dollars, smaller than the 14.6 percent year-on-year plunge in last December, according to data released by the country's Ministry of Commerce.
Exports to primary markets, namely the United States, China, and Japan, decreased by 4.7 percent, 11.4 percent, and 9.2 percent, respectively, the ministry said in a written statement.
Shipments of agricultural and agro-industrial products declined 2.7 percent year on year, while industrial product shipments fell 5.4 percent year on year.
Imports rose 5.5 percent to 24.89 billion U.S. dollars in January, shifting from a 12 percent slump in the previous month, resulting in a trade deficit of 4.64 billion U.S. dollars.
The ministry is targeting annual export growth of 1 percent to 2 percent this year, as slowdowns in the global economy and consumption will continue to affect Thai exports.
Latest comments