Thailand’s exports in March were down 4.88 per cent year on year (YoY), leading to a 1.6-per-cent contraction in exports in the first quarter of this year compared to the same period last year.
The Commerce Ministry reported on Monday Thailand’s customs-cleared exports fell to US$21.4 billion after a 5.9% rise in February to $21.6 billion.
Slowdown in global trade and economies
Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office, said March’s contraction was largely because of a slowdown in global trade and economies.
Shipments of manufacturing products shrank 6 per cent, led by electronics items, computers and its components and hard disk drives, while shipments of automobiles and auto parts, motorcycle and parts and rubber products continued to expand.
![Thai exports drop 4.9% in March 12 Nissan exports at Laem Chabang port (near Pattaya)](https://i0.wp.com/b2thbz.siamnews.network/2012/11/nissan_portcargo.jpg?fit=490%2C327&ssl=1)
Exports of agricultural and agro-industrial products, meanwhile, rebounded from the previous month’s contraction and registered growth of 3.2% from the same period last year, led by fresh, frozen and processed fruits and vegetables (+30.0%), fresh, frozen and processed chicken (+14.2%), rubber (+6.5%) and canned tuna (+6.4%). However, some products declined such as sugar (-23.0%), rice (-7.7%) and cassava products (-9.4%).