Page last updated at 09:34 GMT, Friday, 19 June 2009 10:34 UK

Thailand exports in record slump

Giant Guardian at the Grand Palace in Bangkok
Thailand is experiencing its worst recession in decades

Thailand's exports slumped by more than a quarter in May - a record fall - as demand for Thai goods overseas continued to drop during the downturn.

Exports fell by 26.6% compared with a year earlier, to $11.7bn (£7.1bn). Imports dropped by 34.7% to $9.3bn.

"Exports to key markets were all lower due to weak demand and intensifying competition," the government said.

The Thai economy, which is suffering from its worst recession in decades, is heavily dependent on exports.

And analysts believe the country's exporters, which account for more than 60% of Thailand's entire economic activity, will continue to suffer.

"It is less likely there will be a strong rebound in Thai exports in the near future as demand for imports of raw materials has not picked up yet," said Suara Wilaipich at Standard Chartered Bank.

The Asian economy has been hit hard by the global economic downturn but also by political unrest at the end of 2008.

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