Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO), highlighted the potential for Thailand's exports to surpass the 2% growth target for the year, with projections indicating a possible ascent to a new peak of $290 billion. This growth trajectory is attributed to the robust demand for agricultural and food products, alongside electronic and electrical appliances, buoyed by the economic resurgence of key trading partners, including the US and the European Union.
In September, Thailand witnessed a 1.1% increase in export value to $25.9 billion, against a 9.9% rise in import value to $25.5 billion, marking a consecutive second month of trade surplus, totaling $394 million. The cumulative export value for the first nine months reached $223 billion, a 3.9% increase, whereas imports saw a 5.5% rise to $229 billion, culminating in a trade deficit of $5.96 billion.
The period also saw a 3.5% year-on-year increase in exports of agricultural and agro-industrial products. Specifically, agricultural product exports edged up by 0.2%, while agro-industrial product exports surged by 7.8%. However, certain segments like fresh, chilled, frozen, and dried fruits; tapioca products; sugar; fresh, chilled, and frozen chicken; and canned and processed vegetables experienced a downturn in exports.
Overall, for the first nine months, exports of agricultural and agro-industrial products expanded by 5.4%.
Source: Bangkok Post