Satawasin Staparncharnchai

BANGKOK, (Reuters) – Thailand’s April exports rose slower than in the previous month, and was lower than anticipated, the commerce ministry data revealed on Friday. This is due to the Russian invasion of Ukraine, and China’s locking down measures.

The key driver for Thai growth was exports. They increased by 9.9% in April compared to a year ago, but missed a predicted 14.6% increase in a Reuters poll and were down 19.5% from March.

According to the ministry, this should be a good year for shipping, thanks to a strong baht as well as an increase in exports of food, which is a sign that trade partners are trying to provide food security.

Jurin Lasanawisit stated at a press conference that Thailand, which has food export bans in certain countries, was looking into its products for food sufficiency.

“All in all, there are no worries yet,” he stated.

According to ministry data, Thai food exports rose by 2.2% in April compared with a year ago. Rice shipments increased 44%.

Jurin stated that Thai rice exports will reach 8-9 million tonnes in 2015, compared to 6.1 million tonnes in 2013.

However, April saw a slowdown in shipments to all markets. After a leap of 21.5% in March, they were up 13.6% to the United States. Russia exports fell 77%.

China exports fell 7.2% in April compared to the previous year due to tight restrictions.

Thai imports rose 21.5% in April compared to a year ago, surpassing a prediction of 16.4%. The poll also showed a trade deficit in April of $1.91billion.

Exports increased by 13.7% compared to a year ago, while imports grew 19.2%.