Illustrative image (Photo: https://www.kaohooninternational.com/)Thailand’s export turnover in July 2022 rose 4.3% from the same period last year to nearly 23.63 billion USD, much lower than the growth of 11.9% in the previous month, according to the Thai Ministry of Commerce.
In the first seven months of this year, the country’s exports increased by 11.5%, totaling 172.81 billion USD.
The ministry attributed the rise to increasing demand for food, easing of COVID-19 lockdown measures, falling freight costs, and the weakening baht.
However, it predicted that the value of Thai exports is likely to fall in the second half amid a slowdown in economies of trading partners and the global inflation crisis.
Thailand experienced a trade deficit of 3.66 million USD in July, raising the total deficit in the January -July period to over 9.91 million USD, according to the country’s Ministry of Finance./.