Thai exports have recorded their 10th consecutive monthly decline in July. The drop is largely attributed to a decrease in global commodity prices and weak global demand. Custom-based Thai exports saw a reduction of 6.2% from the previous year, compared to an expected drop of 0.75%. Imports also shrank by 11.1%, resulting in a trade deficit of $1.97 billion. The Ministry of Commerce maintains its growth target of 1-2% for the year, despite the contraction in exports. However, there is hope for a gradual recovery in the coming months, especially in essential food products and alternative electronic imports.
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