AFTA trade nearly returns to pre-flood level
Trade value between Thailand and countries in the Asean Free Trade Area (AFTA) showed improvement in the first quarter after floods in several countries crippled the manufacturing and transport sectors in the fourth quarter, according to the Foreign Trade
Pongpan Jiawiriyapan, deputy director-general, said that trade value increased 6 per cent in the first quarter, compared to the same period last year. Quarter on quarter, it increased by 15 per cent.
While Thailand's imports from countries in the free-trade zone increased over 20 per cent in March, compared to the same period last year, in the first quarter, Thailand's exports went up 1.8 per cent on year and 9.2 per cent on quarter. Since December, exports of vehicles, chemicals and electronic components have been on the rise, showing that the manufacturing sector is resuming normal production capacity.
The department expects trade to return to pre-flood level in the third quarter of this year.
Pongpan noted that Asean is the biggest export market for Thailand and demand is on the rise. The Asean Economic Community in 2015 is expected to strengthen trade.
