Thai exports grew by 0.91 per cent in the first quarter compared to the same period last year, mainly bcause of food and electronics. Overall exports are expected to contract by 8 per cent year on year.
The chief of Thai National Shippers’ Council said that the expected 8-per-cent contraction was the result of the Covid-19 outbreak which had had a big impact on Thailand’s trade partners such as the US, EU and China.
Thai exports in March were valued at US$22.4 billion, 4.17 per cent up on last year, while imports were worth $20.81 billion, an increase of 7.58 per cent.
“Thai exports are better than expected. Even though agricultural product exports have contracted by 1.1 per cent compared to 2019, exports of sugar, vegetables, fruit, frozen and processed chicken, livestock feeds have expanded. Moreover, export of gold, auto, aircraft and spaceship parts, computer devices, steel, iron and air conditioners have expanded 6.4 per cent.” the chief said.