Exports abroad expanded by 7.8% in 9 months, worth 24.9 billion dollars.

Exported abroad for 9 months

The Ministry of Commerce revealed that export figures expanded by 7.8%, totaling 24.9 billion dollars or 888 billion baht, resulting in export figures for the first 9 months of 2022 expanding by 10.6%, totaling 221 billion dollars or 7.52 trillion baht.

While imports were valued at $25.7 billion, expanding by 15.6%, and for the first nine months, they were valued at $236 billion, expanding by 20.7%, resulting in a trade deficit of $853 million in September and a deficit of $14.9 billion in the first nine months.

However, if we look at the product category, we find that agricultural exports expanded by 2.7%, worth about 2 billion dollars or 61.8 billion baht. The products that expanded well were frozen fruits, dried fruits, fresh, chilled, frozen, processed chicken, rice, and rubber.

While the agricultural industry product category expanded by 0.8%, worth approximately 1.73 billion dollars or 72.5 billion baht, with products that expanded well including sugar, ice cream, pet food, canned seafood, and processed seafood.

The industrial product category expanded by 9.4%, worth 20.2 billion dollars or 721 billion baht. Goods that expanded well included fax machines, telephones and components, travel appliances, air conditioners, motorcycles, cars and components, gems and jewelry.

However, regarding the trend of exports abroad, the Ministry of Commerce assesses that there are still positive signs that will support Thai exports this year to achieve their targets.

Mr. Pitak Udomvichaiwat, Director-General of the Department of Foreign Trade, revealed the important achievements of the Department of Foreign Trade for fiscal year 2022, which focused on driving proactive economic policies and upgrading foreign trade facilitation with digital innovations to be in line with the context of modern global trade to drive the economy and increase the value of Thai trade to grow, including promoting the business sector to recover and overcome the COVID-19 crisis effectively.

With 10 main important achievements, including:

In terms of border trade, there is a push to open 24 more border crossings on the Thai side, bringing the total to 70, and neighboring countries to open 57 out of a total of 97 to stimulate the border area economy to create trade and investment activities.

The target for total border and transit exports in 2022 is to expand by 5 percent or a value of 1.08 trillion baht compared to 2021. The total value of border trade in the first 7 months (January – July 2022) was 618,606 million baht, an increase of 20.63 percent, with an export value of 376,074 million baht, an increase of 19.85 percent, an import value of 242,532 million baht, an increase of 21.87 percent, and a trade surplus of 133,542 million baht.

Rice products According to data from the Customs Department and rice export licenses in the first 9 months of 2022 (between 1 January – 20 September 2022): exports were 5.35 million tons, an increase of 45.46 percent, with an export value of 93,578 million baht, an increase of 40.11 percent.

The department, in collaboration with the Thai Rice Exporters Association, has adjusted the target for Thai rice exports in 2022 from 7 million tons to 7.5 million tons.

Cassava products The Department has integrated cooperation with relevant agencies to promote exports, which has resulted in stable export markets, positively affecting cassava prices throughout the system. In addition, a joint market expansion plan has been developed for 2022/23, including (1) existing markets: China; (2) existing markets: Europe; and (3) new markets: Turkey, New Zealand, India, South Korea, Japan, Indonesia, the Philippines, and Saudi Arabia. In the first 8 months of 2022, Thailand exported 8.10 million tons of cassava, worth 3,112.90 million US dollars, and is expected to export 11 million tons of cassava, worth 4,200 million US dollars, an increase of 7 percent, the highest export value in 15 years.

In terms of innovative agricultural products , more than 300 innovative agricultural product entrepreneurs have been promoted through activities to promote marketing channels for Thai innovative agricultural products, resulting in a total trade value of 43 million baht.

Trade privileges : The use of privileges from FTAs and GSP is promoted by organizing seminars to provide knowledge to SMEs. The use of privileges from FTAs has a total value of 49,900.11 million US dollars, with a proportion of 80.98 percent. The use of privileges from GSP has a total value of 2,194.73 million US dollars, with a proportion of 56.59 percent.

Export Product Standards The Department has developed a “Pay Now, Renew Now” system or a system for paying fees for the renewal of the export trader’s registration certificate for standard products and a license to be a product standard inspection business operator and product standard inspector instead of submitting an application.

Ready to improve and issue the Department of Foreign Trade regulations on the use of the Thai Hom Mali Rice Certification Mark B.E. 2565 to facilitate Thai Hom Mali rice exporters and build confidence in consumers that they are consuming authentic Thai Hom Mali rice.

Trade Measures Drive the Control of Goods Related to the Proliferation of Weapons of Mass Destruction (TCWMD) through the Internal Trade Control Network (ICP Network) and the project
Cultivating the internal product control system (ICP In-house) that has trained more than 134 entrepreneurs.

Developing the service system by upgrading digital services such as SMART-I and SMART C/O, which link data between internal and external agencies of the department, helps reduce the need for supporting documents for consideration and can provide No-visit services in a Paperless format. It is expected that the service will be available in early 2023, which will help reduce trade costs for entrepreneurs by more than 480 million baht per year.

To solve the problem of low coconut prices, the Department has been strictly monitoring and inspecting the import of coconuts continuously. In 2022, it sent letters to coconut importers and publicized to remind importers to strictly comply with import measures.

To prevent false claims of origin, the Department has tightened the issuance of general Form C/O certificates of origin by specifying 42 watchlist items, and exporters abroad must have the results of the origin or cost inspection of the watchlist items when applying for the general Form C/O.

In addition, the Department has joined hands with its network of partners, including the Customs Department, to establish rules of origin for goods that do not receive preferential tariffs (Non-Preferential ROO) and are subject to retrospective inspection by the destination country’s customs.

Preparation of a register of imported goods that are under consideration for AC investigation, Customs practices according to the announcement of Catch-all Control (CAC) measures, linking the Customs Department’s CCTV camera system with the Department’s CIC BTS system.

Border trade statistics at each checkpoint (permanent border crossings and trade relaxation points). EXIM BANK, together with the Department, has organized a loan matching project, in which more than 1,184 entrepreneurs have been approved for loans, with an approved credit line of 5,870.8 million baht, and has created an MOU for cooperation in promoting the potential of Thai entrepreneurs, and has collaborated with the Board of Trade and the Federation of Thai Industries to exchange information on 42 watchlist products.

Source: Department of International Trade

: THE STANDARD WEALTH

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