Thai records lowest exports in May in four years due to COVID-19

Source: Xinhua| 2020-06-24 22:38:14|Editor: huaxia

BANGKOK, June 24 (Xinhua) -- Thailand's Ministry of Commerce on Wednesday released a report, indicating that Thai exports in May had shown the lowest level in four years as a result of the COVID-19 pandemic.

"The export value in May was recorded at 16.28 billion U.S. dollars, down by 22.50 percent year-on-year, and the import value was at 13.58 billion U.S. dollars, down by 34.41 percent," said Pimchanok Vonkorpon, director-general of the commerce ministry's Trade Policy and Strategy Office (TPSO).

The TPSO report said that the demand and supply market shrank as a result of the COVID-19 pandemic.

"Production in Thailand had plunged because of worldwide lockdowns," Pimchanok said, adding that the pandemic is on a global scale and that she is unable to predict as to when the pandemic will subside.

However, exports of farm products and foods remained promising as they grew by 22 percent, up from 15 percent in the same period last year, the report said.

Pimchanok said that Deputy Prime Minister and Commerce Minister Jurin Laksanavisit had instructed that this particular sector of farm export must be protected.

Overall Thai export during January to May 2020 totaled 97.899 billion U.S. dollars, down 3.71 percent year on year, while import was at 88.808 billion U.S. dollars, falling 11.64 percent year on year, leaving a trade surplus of 9.0906 billion U.S. dollars for the first five months, the TPSO report said. Enditem