Photo by Nilantha Ilangamuwa on Unsplash
In July, Thai exports declined more than expected for the 10th consecutive month due to a drop in global commodity prices and weak global demand. Custom-based exports saw a 6.2% reduction compared to the previous year, while imports shrank by 11.1%, resulting in a trade deficit of US$1.97 billion. The Ministry of Commerce’s growth target remains at 1-2%. China’s sluggish recovery and declining business confidence are impacting Thai exports. Despite economic slowdowns, geopolitical challenges, and currency fluctuations, there is hope for a gradual recovery in the coming months. Keywords: Thai exports, global commodity prices, weak global demand.
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