Thailand’s March exports plunge 10.9% year on year: TPSO
Thailand’s exports in March contracted by 10.9% year on year with the value of US$24.96 billion, the Trade Policy and Strategy Office announced on Monday.
TPSO director general Poonpong Naiyanapakorn said the 10.9% contraction was partly because the export value in March last year was very high.
Despite the decline, Poonpong said, March’s export value was still close to the average value for the past five years despite global economic uncertainties and geopolitical uncertainties.
He added that extreme weather conditions were affecting harvests, which in turn affected their exports.
He said March saw import value of US$26.123 billion, so Thailand suffered a trade deficit of $1.163 billion in the month.
For the first three months of this year, export value was $70.995 billion, a decline of 0.2% compared with the same period last year.
The import value of the first three months of 2024 was $75.47 billion, an increase of 3.8% year on year.
As a result, Thailand saw a trade deficit of $4.475 billion in the first quarter of this year, Poonpong concluded.
