BANGKOK, 28 April 2015 -The Ministry of Commerce has revised the export target to 1.2% this year, weighed down by the prices of farm and industrial goods.
According to the Permanent Secretary to the Ministry of Commerce, Chutima Boonyaprapatsorn, the decline in Thai exports during the first quarter accounted for a -4.69% on-year drop.
The stronger Thai Baht is also said to have contributed to the rising prices of farm and industrial goods. Several types of products, particularly rubber, cooking oil, rice, frozen shrimps and plastic beads have seen lower export demands from other countries. The trade deficit still stands at 1.4 billion US dollars.
The Ministry of Commerce has decided to revise the export growth to 1.2% this year, or around 203 billion dollars’ worth of Thai exports. However, the Permanent Secretary said the figure is also subject to other factors, such as the global economy and regional economy.
