Thailand's Export Forecast for 2021: Projected 15-16% Growth, Highest in 12 Years
December, 26 2021
- Exports: $23.647 billion USD (783.425 billion THB), a 24.7% increase.
- Imports: $22.629 billion USD, a 20.5% increase.
- Trade surplus: $1.018 billion USD.
11-Month Cumulative Export Growth
- Total exports (Jan-Nov 2021): $246.243 billion USD (7.731 trillion THB), a 16.4% increase.
- Total imports: $242.315 billion USD, a 29.4% increase.
- Trade surplus: $3.927 billion USD.
With December figures yet to be finalized, the annual export growth rate is expected to reach 15-16%, marking the highest growth in 12 years.
Key Export Growth by Sector
Agricultural Products: +14.2% (13 consecutive months of growth)
- Durian: +138.9% (Strong demand in China & South Korea)
- Mango: +48.6% (Strong demand in Malaysia, South Korea, Myanmar, Japan, and Laos)
- Cassava products: +48.6% (Strong demand in China, Japan, Taiwan, South Korea, Malaysia)
- Longan: +24.7% (6 months of continuous growth in China, Hong Kong, Vietnam, Malaysia, Philippines)
- Rubber: +23.5% (14 months of continuous growth)
Agro-Industrial Products: +21.2%
- Sugar: +74%
- Frozen, canned, and processed fruit: +34.5% (2nd month of continuous growth)
- Pet food: +25.9% (27 months of continuous growth)
Industrial Products: +23.1% (9 months of continuous growth)
- Oil-related products (plastic pellets, chemicals, petrochemicals): +72.9% (10 months of continuous growth)
- Steel and iron products: +51.9%
- Gems and jewelry: +24.9%
- Electronic circuits: +26.7%
- Computers and components: +19.9%
- Automobiles and parts: +12%
Top 10 Export Markets with Highest Growth
- South Asia: +66%
- ASEAN: +55.1%
- Middle East: +40.7%
- South Korea: +30.6%
- Europe: +30.2%
- Russia & CIS: +27.3%
- China: +24.3%
- Taiwan: +24.2%
- United States: +20.5%
- Africa: +18.4%