Thai exports in February 2022 grew by 16.2%.

Export to Thailand February 2022

Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce, revealed after the 1/2565 meeting of the Joint Public and Private Sector Committee on Commerce (JPC) that

Thai exports in February 2022 expanded by 16.2% to 23,483 million US dollars compared to the same period last year, the highest figure, while imports expanded by 16.8% to 23,359 million US dollars, resulting in a trade surplus of 123 million US dollars for Thailand.

For the 2 months (January-February 2022), exports expanded by 12.2%, with a value of 44,741 million US dollars, while imports expanded by 18.7%, with a value of 47,144 million US dollars.

The top 10 export markets with growth are: 1. Russia, up 33.4% 2. ASEAN 5 countries, up 31.5% 3. Hong Kong, up 29.8% 4. South Korea, up 28.9% 5. United States, up 27.2% 6. India, up 23% 7. Taiwan, up 17.7% 8. United Kingdom, up 17.3% 9. CLMV, up 14.4% 10. Middle East, up 13.8%

There are factors that cause exports to expand, namely:

• Increasing the potential of agricultural product exports according to the strategy of agricultural production, commerce, marketing
• New target markets, especially the Middle East, are starting to show results, namely Saudi Arabia.
• The Ministry of Commerce has successfully coordinated with foreign online platforms to list Thai products and services on the platforms.
• Promoting Online Business Matching (OBM) activities, matching online sellers and promoting sales in department stores abroad.

However, the situation of the Russia-Ukraine war, which will affect logistics, shipping rates, and containers, is something that the Ministry of Commerce will have to follow up with the private sector to solve the problem together in the form of the Joint Public and Private Sector Committee on Commerce (JPC-Commerce).

Information source: Prachachat Business

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