Containers are being loaded in Bangkok, Thailand. (Photo: AFP/VNA)Thailand's exports decreased by 4.6% in May from a year earlier, according to the country’s Ministry of Commerce (MoC).
The decline was lower than a forecast for an 8% year-on-year drop in a Reuters poll and a decrease of 7.6% year-on-year in April.
Exports, a key driver of Thai growth, weaken due to slowing global demand. However, Thai officials said a weaker baht will provide some support.
A positive factor for overall exports was the weakening baht, Keerati Rushchano, the MoC's permanent secretary, said at a press briefing, adding that the global economic outlook will also improve.
The MoC maintains the target of 1-2% annual export growth for 2023, he said./.