Thailand: Exports are down but manufacturers told not to worry

China’s exports in March contracted by 7.5%, Malaysia’s were down by 6.1%, Indonesia’s by 4.2%, and Singapore’s by 3.4%, TNSC president Chaicharn Charoensuk reported. Taiwan and Vietnam, however, saw increased exports in March at 18.9% and 13%, respectively. Chaicharn added that for the first three months of this year, export value was $70.995 billion, a decline of 0.2% compared with the same period last year. The import value of the first three months of 2024 was $75.47 billion, an increase of 3.8% year on year. As a result, Thailand saw a trade deficit of $4.475 billion in the first quarter of 2024. “Exports in the first quarter contracted slightly year on year due to decreased output of agricultural products, including tapioca, sugar, and durians,” he said. The summer heat has caused delayed harvests for some durian plantations, therefore output that should have been included in Q1 exports will instead be pushed to Q2, he added. “Exporters and manufacturers need not be alarmed ...