Thai exports dropped 3.5% year-on-year in January to US$17.3 billion due to declines in farm-product exports, especially natural rubber and rice.
Chantira Jimreivat Vivatrat, deputy director-general of the Department of International Trade Promotion, said on Wednesday that export value fell due to decreases in the value of farm exports as well as petroleum-related products including refined crude, chemicals and plastic pellets.
She noted that exports of rubber plunged by 40.6% and rice by 13%.
Exports to major markets shrank by 2.1%, those to Japan by 7.5% and exports to the European Union by 5%. Meanwhile, shipments to the United States rose by 6%.
The value of Thai imports in January amounted to $17.7 billion, falling by 13.3% year-on-year. That caused Thailand to post a trade deficit of $457 million in January.