Thailand's exports contracted less than expected in May, as higher industrial goods shipments and a weakening baht helped offset some of the impact of sluggish global demand, the commerce ministry said on Tuesday. Thailand posted a trade deficit of $1.8 billion in May versus a forecast deficit of $300 million. For the January-May period, exports declined 5.1% from a year earlier, imports were down 2.5% and the trade deficit stood at $6.4 billion. The baht has depreciated 1.8% against the dollar so far this year. The global economic outlook should also improve, which will be positive for exports from now until the end of the year, said the ministry's permanent secretary. The ministry maintains its target of 1%-2% annual export growth for 2023. (ICE BANGKOK)

Fonte notizia: Reuters