Thai export growth is expected to reach just over one percent this year after declining for three consecutive months in March.
Earlier forecast put the growth at 4 percent, but the country's Commercial Ministry had to revise down the prediction following a 4.45 percent decline year on year last month to 18.9 billion USD.
For the first quarter of the year, Thai exports totalled 53.36 billion USD, down by 4.69 percent from the last year, whilst imports also dropped 6.43 percent, to 51.93 billion USD. A trade surplus of 1.43 billion USD was recorded in the period of January to March.
Lowering export target now is more in line with other economic agencies' growth projections, which range from 0-1.4 percent.
Thai exports in the period faced a spate of negative factors related to foreign exchange, falling global farm prices, a rise in non-tariff barriers by several importing countries, unrest in North Africa and self-sufficiency policies launched by several Middle East countries, according to the ministry.
It is expected that the full year exports may reach 230 billion USD, the ministry said.-VNA
