Thailand’s exports for the first seven months of the year decreased by 5.5% to $163.3 billion, while imports fell by 4.7% to $171.5 billion, resulting in a trade deficit of $8.2 billion. In July alone, exports dropped by 6.2% to $22.1 billion, and imports fell by 11.1% to $24.1 billion, leading to a trade deficit of about $1.97 billion. The decline in exports was attributed to factors such as interest rate hikes, credit tightening, and slow economic recovery in China. However, there are positive signs for Thai industrial products and increased exports of rice, fruits, and meat. Farm and agro-industrial exports have fallen for three consecutive months due to economic slowdowns in trading partners.
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