Bangkok (VNA) – Thailand’s CommerceMinistry has projected the country's export sector to gradually recover in thelatter part of the year.
The rebound of the service and tourism sectorsshould also boost demand from trading partners, the ministry said.
However, global economic uncertainty and aninflationary environment will inevitably affect Thai exports in the first halfof the year.
Thai outbound shipments are expected to contract inthe first and second quarters, as importers still maintain largestockpiles, said Phusit Ratanakul Sereroengrit, director-general of theInternational Trade Promotion Department.
The ministry reported on March 30 the customs-clearedvalue of exports dipped for the fifth month in a row in February, falling 4.7%year-on-year to 22.4 billion USD while imports increased by 1.1% to 23.5billion USD, resulting in a trade deficit of 1.11 billion USD.
For the first two months of 2023, Thai exports fellby 4.6% to 42.6 billion USD, while imports rose by 3.3% to 48.4 billion USD,resulting in a trade deficit of 5.76 billion USD.
Poonpong Naiyanapakorn, director-general of theTrade Policy and Strategy Office, said factors causing a decline in exportslast month included a high base in February 2022 and key importing countriesfacing mounting pressure from the global economic slowdown, hampering demandfor products.
In addition, he said high inflation in many countriesaffected consumer purchasing power, resulting in pressure on Thai exports./.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
Illustrative image (Source: AFP/VNA) 
