Thailand’s Minister of Commerce Jurin Laksanawisit has expressed confidence that the country’s exports could expand by up to 8% this year after robust growth in the first nine months.
Containers are stacked at Bangkok Port. (Source: BangkokPost)
Bangkok (VNA) – Thailand’s Minister of Commerce Jurin Laksanawisit has expressedconfidence that the country’s exports could expand by up to 8% this year afterrobust growth in the first nine months.
Keysupporting factors for Thailand’s export growth include the resumption ofglobal economic activities after the lifting of COVID-19 restrictions,resulting in higher demand, especially for food and industrial goods, gems andjewellery, garments and textiles, travel equipment and cosmetics.
Theshortage of semiconductors has started to ease, while the depreciation of thebaht has made Thai farm exports, especially rice, more competitive in theglobal market, but there was still a risk of a slowdown in trading partnereconomies, Jurin said.
The Ministryof Commerce aims to organise 530 events to facilitate exports this year,including 345 events planned for the second half of 2022.
Thailand’sexports grew by 7.8% to 24.9 billion USD in September, following a 7.5%year-on-year uptick in August and a 4.3% increase in July.
In thefirst nine months of this year, the country’s exports expanded by 10.6% to 221billion USD, while imports rose by 20.7% to 236 billion USD, resulting in atrade deficit of 15 billion USD./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Containers are stacked at Bangkok Port. (Source: BangkokPost) 
