Bangkok (VNA) – Thailand’s exports hit a 30-year record high in Marchwith outbound shipments growing by 19.5 percent year on year.
TheCommerce Ministry reported on April 26 that the customs-cleared value of thecountry’s exports in March grew by 19.5 percent to 28.8 billion USD, thehighest level attained since records began in 1991, while imports rose by 18percent to 27.4 billion USD, resulting in a trade surplus of 1.45 billion USD.
In the first quarter of the year, Thai exports expanded by 14.9 percent to 73.6billion USD, while imports rose by 18.4 percent to 74.5 billion USD, resultingin a trade deficit of 944 million USD.
According to CommerceMinister Jurin Laksanawisit, Thai exports in 2022 are expected to expandcontinuously as the impact of the Russia-Ukraine conflict -- includingsanctions against Russia -- on Thai trade is quite limited due to the small shareof trade between Thailand and both countries.
Various supporting factors include the opportunity to export more agriculturaland food products to ensure food security in many countries as well as theopportunity to be a substitute for Russian and Ukrainian products. Theutilisation of free trade agreements such as RCEP, along with the restorationof Saudi Arabia–Thailand relations would benefit Thai exports, especially interms of rice, fresh, chilled, frozen and processed chicken, processed seafood,along with automobiles, equipment and parts.
Other supporting factors include the risingtrend in food and commodity prices which would likely lead importers toaccelerate imports in order to reduce the risk of volatility and higher pricesas well as the depreciation trend of the Thai baht which is conducive toexports./.
TheCommerce Ministry reported on April 26 that the customs-cleared value of thecountry’s exports in March grew by 19.5 percent to 28.8 billion USD, thehighest level attained since records began in 1991, while imports rose by 18percent to 27.4 billion USD, resulting in a trade surplus of 1.45 billion USD.
In the first quarter of the year, Thai exports expanded by 14.9 percent to 73.6billion USD, while imports rose by 18.4 percent to 74.5 billion USD, resultingin a trade deficit of 944 million USD.
According to CommerceMinister Jurin Laksanawisit, Thai exports in 2022 are expected to expandcontinuously as the impact of the Russia-Ukraine conflict -- includingsanctions against Russia -- on Thai trade is quite limited due to the small shareof trade between Thailand and both countries.
Various supporting factors include the opportunity to export more agriculturaland food products to ensure food security in many countries as well as theopportunity to be a substitute for Russian and Ukrainian products. Theutilisation of free trade agreements such as RCEP, along with the restorationof Saudi Arabia–Thailand relations would benefit Thai exports, especially interms of rice, fresh, chilled, frozen and processed chicken, processed seafood,along with automobiles, equipment and parts.
Other supporting factors include the risingtrend in food and commodity prices which would likely lead importers toaccelerate imports in order to reduce the risk of volatility and higher pricesas well as the depreciation trend of the Thai baht which is conducive toexports./.
VNA
