According to the Thai Ministry of Commerce, Thailand’s exports have hit a new low with a contraction of 5.01 percent in May.

The ministry said exports in May totalled 18.4 billion USD, the fifth consecutive drop in five months. Imports for the month were estimated at 16 billion USD, resulting in a trade surplus of 2.41 billion USD.

Exports in January to May totalled 88.6 billion USD, which is a decrease of 4.2 percent.

The sharp drop is attributed largely to the slower-than-expected global economic recovery and Thailand's lower competitiveness.-VNA