Thai exports declined for the 10th consecutive month in July, falling at a larger rate than expected due to sluggish global demand and a decline in global commodity prices.
However, the decline in Thai exports was less severe compared to other countries. The ministry will try to meet its export growth target of 1-2% for the year, but it will be challenging.
Exports in the first seven months of the year were satisfactory, but efforts will be made to improve the numbers in the remaining months. Exports of computers and parts decreased, while auto exports and rice export volumes increased. Exports to the United States rose, but exports to Southeast Asian countries, Japan, and China declined. Thailand posted a trade deficit in July, with imports also declining.
Despite the challenges faced by Thai exports, there are some positive signs on the horizon. The recent increase in auto exports and rice export volumes is encouraging and shows potential for growth in these sectors. Efforts will continue to be made to further improve these numbers and expand markets for Thai products.