BANGKOK (NNT) – Amid economic uncertainty and an inflationary environment posing challenges for Thai exports in the first half of 2023, the Ministry of Commerce anticipates a recovery for the country’s export sector in the second half of the year.

Durian is Thailand’s top export earner, outranking rice and rubber

Department of International Trade Promotion Director-General Phusit Ratanakul Sereroengrit stated that Thai outbound shipments are expected to contract in the first and second quarters as importers still have large stockpiles. However, exports are expected to bounce back in the second half of this year.

According to the ministry’s data, the customs-cleared value of exports decreased for the fifth month in a row in February. For the first two months of 2023, Thai exports fell by 4.6% to 42.6 billion U.S. dollars. Factors in exports last month included a high base in February 2022 and key importing countries facing mounting pressure from the global economic slowdown, which hamper demand for products.

Full story: National News Bureau of Thailand

Reporter: Krajangwit Johjit,
Rewriter: Tarin Angskul
National News Bureau of Thailand