Thailand's Export Sector Becomes the Pillar Supporting the Economy
June, 4 2021
In April, exports grew by 13%, the highest in 36 months (since April 2018). As a result, Thailand's export value for the first four months of the year expanded by 4.7% compared to last year.
Key Factors Driving Export Growth:
- Global Economic and Trade Recovery
- Strategic Export Management: The Ministry of Commerce has collaborated closely with the private sector, introducing various trade promotion measures, such as:
- 120 online trade negotiations between importers and exporters this year.
- Transforming international trade fairs in Thailand into Virtual or Hybrid formats to maintain continuous trade.
Top-Performing Export Products:
- Agricultural and food products, especially cassava, rubber, vegetables, and fruits.
- Work-from-home products and home appliances.
- Medical and protective equipment, such as gloves and medical devices.
- Industrial-related products, such as steel, chemicals, and plastic pellets.
- Luxury and durable goods, such as automobiles, auto parts, gems, and jewelry (excluding gold).
Major Export Markets:
- United States
- Japan
- European Union
- China
- South Korea
- Taiwan
- South Asia (India)
- CLMV countries (Cambodia, Laos, Myanmar, Vietnam)
- Australia
- Middle East
- Latin America
- Russia & CIS (Commonwealth of Independent States)
The export outlook for the next quarter is expected to show clearer signs of recovery.