BANGKOK – Thai exports shrank for a 10th consecutive month in July, and by a far bigger rate than expected, as global demand remains sluggish, and the commerce ministry said on Friday it would be difficult to meet its full-year export growth target.
Customs-based exports, a key driver of Thailand’s economy, contracted 6.2 percent in July from a year earlier, compared with analysts’ average estimated dip of 0.75 percent in a Reuters poll. Exports had slumped 10.8 percent from June.
“A sharp decline in global commodity prices, resulting from the conflicts in Ukraine in the preceding year, led to a significant slowdown in related export values,” the ministry said in a statement, a…
Keep on reading: Thai exports drop more than forecast in July, seen rising in Q4