Trade dept eyes top ranking for Thailand export market
The Department of International Trade Promotion plans to boost Thailand’s competitiveness in international markets with the aim of making it one of the top five export countries in Asia by 2023, director general Somdet Susomboon said.
Thailand is currently the eighth top exporter in Asia and 23rd in the world. It has to boost its exports by an additional US$1 billion (Bt31.5 billion) per month to achieve the goal.
The Kingdom’s export market is expected to contract between 7 and 9 per cent this year due to the global impact of the Covid-19 pandemic.
Somdet said the factors that will propel Thailand to the top five include its production capacity and promotion of investment in high-value products in the much-touted Eastern Economic Corridor.
Last year, the top 10 exporters in Asia were China and Hong Kong with exports valued at $3 trillion, followed by Japan with $700 billion, South Korea $540 billion, Singapore $390 billion, India $320 billion, Taiwan $300 billion, Vietnam $260 billion, Thailand $240 billion, Malaysia $238 billion and Turkey $180 billion.
