According to Thai media news, on May 7, Mr. Chaisen, chairman of the Thai Shippers Council (TNSC), revealed that Thailand's exports in March 2024 were 24.9606 billion US dollars, down 10.9% from the same period last year; Imports amounted to US$26,123.8 million, up 5.6% year-on-year, and the trade deficit for the month was US$1,163.3 million.
He said that the export situation from January to March 2024 is that the cumulative export value will reach 70.9953 billion US dollars, a decrease of 0.2% from the same period last year; The import value was 75,470.5 million US dollars, a year-on-year increase of 3.8%, and the trade deficit in the first three months was 4,475.2 million US dollars. In this regard, the Shippers' Council expects exports to grow by 1%-2% for the full year of 2024.
In addition, he further stated that the Council believes that the main factors that need to be closely watched at present are geopolitical conflicts, concerns about production costs, and drought issues that have a serious impact on agricultural production. At the same time, the Council recommended that the government should consider the measures to raise the minimum wage in a comprehensive manner and manage production costs in a holistic manner to maintain the competitiveness of Thai entrepreneurs in the face of the global economic slowdown.