March Exports Plunge 4.88%! TPSO Asserts the Possibility of Missing 8% Projection!
Thailand exports plunged by 4.88% in March due to the global business slow down. Trade Policy and Strategy Office believed 8% projection may not be able to achieve.
Trade Policy and Strategy Office Ministry of Commerce reported the number of Thailand International trade of March 2019, which showed that the exports of Thailand had declined by 4.88 percent to USD 21.440 million, the number of decreasing had exceeded the expectation which was 3.3 to 4.0%. Moreover, the Thailand imports showed a decrease of 7.63 percent to USD 19,435.5 million, while the trade surplus was over to USD 2,004.7 million.
The overall value of the first three months of the year 2019 (January – March) showed the value of exports was USD 61,987.8 million which declined by 1.64%. The import value was USD 59,981.1 million which is 1.20 percent decreasing, and the values of the trade surplus were USD 2,006.7 million.
Ms. Pimchanok Vonkorpon, Director-General of the Office of Trade Policy and Strategy Office, said the overall view of exporting in 2019 might not meet the target of 8 percent. It is quite difficult to achieve the target, however, the growth percentage might not less be than 3 percent for the whole year. She also believe that the exports number will be more positive and slightly increase in the second quarter of 2019.