Some blame external factors such as the slower-than-expected global economy, low oil and farm prices and the weak currency policy of several manufacturing countries.
But many argue that troubled exports stem largely from structural problems in the Thai economy itself.
Thailand's exports have hardly changed from 20 to 30 years ago and its key exports remain agricultural commodities like rice, rubber, tapioca and fruit.
Up-and-coming neighboring countries such as Vietnam, Cambodia, Laos and Myanmar have rising production capacity and quality that is competitive with Thai products.
Thailand's industrial sector is also seeing mounting challenges from higher wages and worker shortages, particularly in labour-intensive industries like garments.
Nearly all garment makers have shifted their production base to neighboring countries to make the most of cheap labour, tariff exemptions and bountiful raw materials