Flood impacts weigh down March export
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Thailand's export in March remained battered by the impacts from last year's floods, according to the Commerce Ministry.
Despite positive growth in February, the export value showed a negative growth in March due to slow recovery in the farming and industrial sectors from floods.
Export in March dropped 6.54 per cent on year to US$19.8 billion (Bt606.44 billion). Import however grew largely by 25.62 per cent to $24.45 billion, resulting in a trade deficit of $4.58 billion.
Deputy Commerce Minister Poom Sarapol said Thailand faced a high level of trade deficit last month, on huge imports of machinery to replace the flood-damaged one as well as higher fuel prices.
However, he is optimistic that export growth should resume in the second quarter. He also assured that Thailand would achieve a 15-per-cent growth rat this year, against slight contraction in the first quarter.
