Thai Exports in May Contract 4.6%

Thailand’s customs-based exports in May contracted 4.6% from a year earlier, according to the report by the commerce ministry on Tuesday.

Still, the drop was better than an 8% YoY decrease forecast for May in a Reuters poll, and came after a 7.6% drop in April.

Meanwhile, May customs-cleared imports contracted 3.4% YoY, compared to a decrease of 9.9% expected in a Reuters poll.

Trade balance in May recorded a deficit of 1.8 billion dollars, compared to a deficit of 0.3 billion dollar from Reuters poll.