Thailand’s Ministry of Commerce revealed on Friday, 25 August 2023 that Thai exports had sharply dropped in July, which contracted 6.2% in July from a year earlier, according to Reuters.
“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, adding China had also faced a slow recovery.
Furthermore, Keerati Rushchano, the ministry’s permanent secretary noted that the current situation of the exports would make it difficult for the country to achieve its full-year export growth target.
However, he said more effort will be put into completing the goal.
