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Thai exports for April fall to the lowest level in 24 months

Thai exports for April fall to the lowest level in 24 months

13 Sept 12:16 Key points summarised by AI
  • Thai exports plummeted 2.57% in April to US$18.5 billion, marking a 24-month low, primarily due to the escalating US-China trade war.
  • Imports also declined 0.72%, leading to a US$1.5 billion trade deficit for April, with overall exports contracting 1.86% in the first four months of the year.
  • External factors such as global trade slowdown, reduced demand from key partners, and political instability in Europe and China's credit issues further depressed exports, severely impacting electronic goods to China.
  • The Deputy Prime Minister will convene a meeting to devise strategies for boosting exports, as the Commerce Ministry's 8% annual growth target is now significantly challenged.
  • The private sector advocates for a "war room" to proactively monitor global economic shifts and enhance Thailand's adaptive capacity.
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