Thai Exports Rise 4.7% in December as Commerce Ministry Eyes 2% Growth in 2024

Thailand’s customs-based exports rose 4.7% in December, its fifth straight month of gain after a 4.9% rise in November, according to the data revealed by the commerce ministry on Friday.

Despite the gain, exports for the final month of 2023 fell short of expectations polled by Reuters for a 6.0% expansion.

Meanwhile, customs-cleared imports contracted by 3.1% in December, compared to a 7.2% rise in Reuters poll.

The trade balance was a 970 million surplus, beating a deficit of 1.37 billion in a Reuters poll.

Exports in 2023 contracted by 1%, according to the commerce ministry, while expecting outbound shipment in 2024 to increase 1.99%.