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Thailand's exports drop 14.6 pct in December 2022

Xinhua
25 Jan 2023, 02:05 GMT+10

BANGKOK, Jan. 24 (Xinhua) -- Thailand's exports declined for the third month in a row in December 2022 as the economic slowdown continued to impact its trading partners, data showed Tuesday.

Exports, a main driver of the country's economic growth, fell 14.6 percent in December from a year earlier to 21.72 billion U.S. dollars, according to data released by the country's Ministry of Commerce.

In 2022, the country's export value reached a new high of 287.07 billion U.S. dollars, up 5.5 percent year on year, beating the ministry's target of 4 percent, Commerce Minister Jurin Laksanavisit told a news conference.

Imports climbed 13.6 percent to 303.19 billion U.S. dollars last year, resulting in a trade deficit of 16.12 billion U.S. dollars.

The ministry is targeting an annual export growth of 1 percent to 2 percent this year, Jurin said, citing negative factors such as the slowing global economy, particularly economies of the country's major trading partners, to weigh on exports.

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