Thu, August 18, 2022

business

Thai exports to Asean up 17% in first four months


The value of Thai exports to Asean rose 17 per cent in the first four months from the same period last year, the Trade Negotiations Department reported on Sunday.

Thailand’s exports to the region between January and April were worth US$24 billion.

Asean is Thailand’s largest export market, accounting for 24.7 per cent of the Kingdom’s total exports.

The first four months saw “satisfactory growth”, said the department, with exports up 60 per cent to Singapore, 34 per cent to Indonesia, 24 per cent to Myanmar, 11 per cent to Malaysia, 8 per cent to Laos, 7 per cent to Cambodia, and 0.4 per cent to Vietnam.

Growth was driven by exports of sugar (up 140 per cent), wheat and instant foods (12 per cent), animal and vegetable fat/oil (81 per cent), animal feed (21 per cent) and tapioca (72 per cent). Agricultural products accounted for 16 per cent of all exports to Asean.

Thai exports to Asean up 17% in first four months Industrial products, which made up 72 per cent of Thai exports to Asean, also rose, including vehicles and auto parts (up 1.4 per cent), plastic pellets and chemicals (14 per cent), electronic circuits (27 per cent), machinery and parts (21 per cent) and electric appliances and parts (8 per cent).

Free-trade agreements with Asean members played a major role in export growth, the department said.

It expects exports to Asean will grow further in the second half of 2022 following relaxation of Covid restrictions and export bans of key foods such as chicken by other Asean countries.

Published : June 12, 2022

By : THE NATION