BANGKOK (Reuters) – Thailand’s customs-based exports fell for a fourth straight month in January and more than expected, its Commerce Ministry said on Thursday, as a global slowdown weakens demand.
Exports, a key driver of growth, dropped 4.5% in January from a year earlier, worse than a 1% fall forecast in a Reuters poll. But the drop was slower than December’s 14.6% year-on-year slump.
Shipments of electronics declined but exports of vehicles rose and rice exports jumped, Deputy Commerce Minister Sinit Lertkrai told a news conference.
The ministry is targeting export growth of just 1% to 2% this year after a 5.5% increase in 2022.
However, the central bank said this week that exports could contract this year.
(Reporting by Orathai Sriring, Kitiphong Thaichareon, Satawasin Staporncharnchai; Editing by Kanupriya Kapoor)
