Thai exports in May 2022 expanded 10.5%, beating the market estimates of 6.5-8.1% growth. Meanwhile, imports grew 24.2% which resulted in a trade deficit of $1,874 million.
Exports for the first five months in 2022 represented a growth of 12.9%, but due to a 20.2% growth in imports, Thailand recorded a $4,726 million of trade deficit.
Jurin Laksanawisit Deputy Prime Minister and Minister of Commerce said that exports growth remained positive due to various supporting measures and promotions to boost exports, especially agricultural products as well as foods and beverages amid economic recovery and baht depreciation.
In addition, Mr. Laksanawisit expected Thai exports to outperform the forecast of 4-5% growth and expected that the Thai exports will be the main contributor for the economic drivers, supported by the tourism industry.