Thailand’s exports continue to grow
The Commerce Ministry expects the country’s export trend this year to continue to expand, thanks to the recovery of the global economy. The ministry expects the growth of the global economy this year to be 3.9 per cent year-on-year.
The country’s export trend in the first quarter looks bright and the products that are expected to enjoy higher export include computers and components, electricity circuits, vehicles, plastic pellets and jewellery, according to the ministry. The value of Thailand’s exports in January this year rose the highest over the past 62 months by 17.6 per cent to US$20.101 billion. The import value was $20.220 billion, up 24.3 per cent year-on-year, resulting in a trade deficit of US$119 million.
The export value of farm products and agro-industrial products in January expanded 16.2 per cent year-on-year, reflecting expansion for 15 months straight. Among the products with significant growth were rice, with growth of 37.2 per cent year on year, cassava products (42.3 per cent year on year), sugar (42.2 per cent), and frozen and processed chicken meat (18.4 per cent).
The country saw the export growth of overall products in all its markets. For example, exports to the US and Japan rose 11.3 per cent and 26.3 per cent, respectively, while that to European Union rose 8.9 per cent.