Thai Exports Expand 10% in January as Commerce Ministry Sees Growth in 1Q24

Thailand’s customs-cleared exports rose for the sixth consecutive month in January by 10% from last year, beating 8.8% expansion expected by a Reuters poll. The reading showed growth in exports, up from a 4.7% rise last December.

Meanwhile, imports rose 2.6% in January from a year earlier, beating a forecast for a 3.1% decline.

The kingdom posted a trade deficit of $2.76 billion in January, compared to a forecast for a $1.54 billion deficit.

The Commerce Ministry expected exports to continue rising in the first quarter. He noted that the outlook for 2024 should continue to expand, driven by the global economic recovery, easing of the global inflation situation, and demand for food security.