Export takes a hit
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Thai exports in April dropped continuously by 3.67 percent year on year to US$16.91 billion, mainly from lower shipment to major export destinations particularly the European Union, the Commerce Ministry announced today.
Imports expanded by 7.87 percent to $19.78 billion, thanks to demand for new machinery in the flood-hit manufacturing sector. This resulted in trade deficit of $2.86 billion for the Kingdom.
The ministry reported that exports in the first four months contracted by 3.86 per cent to US$71.56 billion. The four-month imports rose 9.79 per cent to $79.61 billion, resulting in total trade deficit of $8.05 billion.
Despite a fall in export growth, Deputy Commerce Minister Poom Sarapol said exports should achieve 15 percent growth target this year. He said that export should expand in the coming months thanks to the apparent recovery of the manufacturing sector.
