10:40 | 04/05/2015 Global Economy
Thai export growth is expected to reach just over 1 percent this year after consecutive decline recorded in the third month in March.
Thai export growth is expected to reach just over 1 percent this year (Photo: www.bangkokpost.com)
Export forecast use to be projected earlier by 4 percent, however, the country's Commercial Ministry had to readjust due to a decline of 4.45 percent year on year last month to 18.9 billion USD.
For the first quarter of the year, Thai exports totalled 53.36 billion USD, down by 4.69 percent from a year earlier, whilst imports also dropped 6.43 percent, to 51.93 billion USD. A trade surplus was 1.43 billion USD in the January-March period.
Lowering export target now is more in line with other economic agencies' growth projections, which range from 0-1.4 percent.
Thai exports in the period faced a spate of negative factors related to foreign exchange, falling global farm prices, a rise in non-tariff barriers by several importing countries, unrest in North Africa and self-sufficiency policies launched by several Middle East countries, according to the ministry.
It is expected that the full year exports may reach 230 billion USD, the ministry said.