Thai exports saw an unexpected 5.7 per cent slump year on year in January, pointing to impact from the baht’s appreciation, the Thai National Shippers’ Council (TNSC) said, while urging exporters to use local currencies to reduce financing costs and foreign exchange risks.

Thai exports saw a 5.65 per cent year on year contraction in January, largely due to the impact of the US-China trade war, the Thai baht appreciation and increase in competition from Asean markets.