In July, Thai exports decreased more than anticipated for the 10th successive month. The drop is primarily due to a decline in global commodity prices since their peak in the early months of the Russia-Ukraine conflict last year.
High interest rates and stringent lending conditions, compounded by weak global demand, have led to a slowdown in consumer spending, explained Keerati Rushchano, the Permanent Secretary of the Ministry of Commerce.
According to recent data, in July, custom-based Thai exports saw a 6.2% reduction from the previous year, compared to an expected average drop of 0.75% as per the Reuters poll.
Compared to June, exports declined by 10.8%. The export value in July stood at US$22.14 billion, down from US$23.6 billion the previous year. Concurrently, imports shrank by 11.1% to US$24.1 billion, leading to a trade deficit of…
