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Thai Exports in April 2022 Continue to Grow, Valued at Over USD 23.521 Billion

June, 13 2022

April 2022: Thailand's Exports Continue to Grow, Valued at Over USD 23.521 Billion

Deputy Prime Minister and Minister of Commerce, Jurins Laksanawisit, reported that Thailand’s exports in April 2022 grew by 9.9%, reaching a total value of USD 23.521 billion, marking 14 consecutive months of expansion. Meanwhile, imports grew by 21.5%, amounting to USD 25.429 billion, resulting in a trade deficit of USD 1.908 billion. The export growth was mainly driven by three key sectors: agricultural products, agro-industrial products, and industrial goods.

From January to April 2022, Thailand’s exports increased by 13.7%, with a total value of USD 97.122 billion, recording the highest growth rate among all sectors. Imports expanded by 19.2%, reaching USD 99.975 billion, leading to a trade deficit of USD 2.852 billion.

Key Export Products

• Agro-industrial products grew 10.8%, totaling USD 4.443 billion. Key exports included tapioca products, rice, fresh rambutans, fresh mangosteens, and fresh mangoes. The government aims to push rice exports, especially jasmine rice, parboiled rice, broken rice, white rice, and glutinous rice, with an expected export volume of 7-8 million tons this year, exceeding the original target.
• Industrial products expanded 8.3%, totaling USD 17.962 billion. Key exports included aluminum products, gems and jewelry, steel, iron and related products, and electrical circuits.

Positive Factors for Export Growth

Several factors contributed to the expansion of exports in April and are expected to drive future growth, such as:

1. Accelerating rice export promotion—especially jasmine rice—by working with Thai restaurants abroad and promoting the GI-certified Thung Kula Rong Hai jasmine rice in the European Union as a key selling point. The Thai Rice Exporters Association is also negotiating export agreements to boost shipments.
2. Expanding partnerships with new markets, including:
   • Bhutan, focusing on Thai herbs and traditional medicine.
   • Mini-FTAs with Indian state Telangana and Chinese provinces Hainan and Gansu, which will stimulate future exports.
   • Upcoming JTC meeting between Thailand and Vietnam to strengthen trade relations.

Future Export Trends and Promotion Plans

• Agricultural and food exports are expected to increase as trading partners prioritize food security.
• Industrial products will likely continue to grow, especially intermediate goods such as steel, iron, plastics, chemicals, refined oil, LPG, and natural gas.
• Lifestyle consumer goods will benefit from the easing of pandemic restrictions.

However, Thai exports may still be affected by semiconductor shortages in the first half of the year. Some markets, such as ASEAN, are expected to show stronger demand due to the reopening of economies and the lifting of pandemic restrictions.

Proactive Measures by the Ministry of Commerce

The Thai Ministry of Commerce has been actively promoting exports through various measures:

1. Resolving export barriers for Thai fruits to China—encouraging more shipments by sea instead of land to reduce border congestion. Additionally, Thai trade representatives are negotiating with Chinese authorities to streamline land transport logistics.
2. Reviving the Saudi Arabian market—by participating in SAUDI FOOD EXPO, arranging business-matching sessions, and launching promotional campaigns with top Saudi supermarkets for Thai rice, halal food, and fruits.
3. Encouraging environmentally friendly trade practices to align with future international trade regulations, particularly in the European Union.
4. Accelerating FTA and Mini-FTA negotiations to boost Thai exporters' competitiveness and strengthen trade relations at both bilateral and multilateral levels.