BANGKOK: Commerce Ministry of Thailand said that country’s export dropped 3.46 percent in January from a year earlier.
This would be something the second largest economy in Asean hasn’t experienced in at least two decades, and a loss that magnifies challenges for the military-run government. Exports contracted by 0.4 per cent in 2014, and 2015 perspective remains unclear.
Mrs Chanthira Yimrewat, deputy director-general of International Trade Promotion Department, said Wednesday that global oil price cuts had resulted to the value of oil-based export products such as chemicals and plastic chips to drop accordingly.
Value of imports during the same period also dropped 13.3 % to US$ 17.7 billion resulting to trade deficit amounting to US$ 457 million.
Export of farm products and agro-industrial products contracted 13 percent resulting from 40.6 % contraction in value of rubber export; 13 percent contraction in value of rice exports; 12.1 percent drop in value of tapioca products; 9.7 percent drop in value of seafoods export.
