Thailand's decline in export receipts will be less than feared according to the country’s commerce ministry. The ministry had revised its projected drop to 6.5% from 8.1% in US dollar revenue. Between January and October, Thailand's exports earned $54.78 billion, down by 5.06% from the same period of last year.

Imports were worth $52.29 billion, up by 1.98%. The country posted a trade surplus of $2.49 billion, a decline of 61%.

In October, export receipts totalled $5.44 billion, 13.9% less than in the same month last year.

By comparison Taiwan's exports declined by 16.64% in value between January and October; while the Philippines posted a decline of 13.84%, South Korea 11%, Malaysia 8.35%, Indonesia 5.91% and Hong Kong 3.62%.

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