When Thai exports become the main pillar supporting the Thai economy

Thai exports

It has become a hope for the Thai economy because exports in the first quarter of this year expanded even amid the new wave of the Covid outbreak. The latest April figures expanded by 13%, the highest in 36 months or 3 years (since April 2018). As a result, in the first 4 months of this year, the value of Thai exports expanded by 4.7% compared to last year.

From 2 main factors:

1. External factors that have helped the global economy and trade recover
2. Factors from export management that the Ministry of Commerce has planned in close collaboration with the private sector, such as the Department of International Trade Promotion, which has adjusted the format of marketing channels in many forms, such as online trade negotiations between importers and exporters, totaling 120 activities this year, adjusting the format of international trade fairs in Thailand to a virtual format (Virtual Trade Fair) or a hybrid format to create continuous trading.

Products that expanded well include:

1. Agricultural and food products, especially cassava products, rubber, vegetables and fruits
2. Products related to work from home and home appliances
3. Products related to infection prevention and spread reduction, such as medical equipment and devices, and rubber gloves.
4. Product groups related to the manufacturing sector, such as steel and products, chemicals, plastic pellets
5. Durable goods or high-priced luxury goods such as automobiles, equipment and components, and gems and jewelry (excluding gold).

Thailand’s main export markets include:

1. United States of America
2. Japan
3. European Union
4. China
5. South Korea
6. Taiwan
7. South Asia, such as India
8. CLMV countries
9. Australia
10. Middle East
11. Latin America
12. Russia and the Commonwealth of Independent States (CIS)

The export trend in the next quarter is expected to show a clearer picture of recovery.

Source: Thansettakij.com