The Thai Ministry of Commerce has lowered the country’s export growth estimate for this year from 4 percent to 1 percent.

Speaking after a meeting to evaluate the export situation in 2013 and the trend in 2014, Deputy Prime Minister and Minister of Commerce Niwatthamrong Boonsongpaisan said the world market has still been sluggish, thus affecting Thai exports’ opportunities and prompting the ministry to lower the growth estimate.

The decision was made after Thailand saw only a 0.05 percent growth in exports in the first nine months of the year.

However, with the continued recovery of the world market in 2014, Niwatthamrong stated that he expects to see next year’s export growth at 5 percent.-VNA/NNT