Thai food exports sees 6.3% growth YOY in first four months

FRIDAY, JUNE 07, 2024

Thailand exported food products valued at 420 billion baht from January to April, a 6.3% increase year on year (YoY), the Department of Trade Negotiations said on Friday.

Nearly 70% of exports worth 270 billion baht came from 18 countries and economic zones that have signed free trade agreements (FTAs) with Thailand. The amount is up 1.3% (YoY).

The department said that top food products exported to FTA partners this year included rice, valued at 33 billion baht, expanding 137.6% (YoY), beverages (22 billion baht, up 11.3%), processed chicken (19 billion baht, up 9.4%), wheat products (17 billion baht, up 14.5%), and canned and processed fruits (9.5 billion baht, up 41.1%).

Thai food exports sees 6.3% growth YOY in first four months

Department director-general Chotima Iemsawasdikul said food exports this year had shown a growth trend due to higher demand for Thai foods in the global markets. This is a result of economic activities and tourism in several countries having recovered to near or exceeding pre-pandemic levels.

“Furthermore, many countries are introducing food stability in their national agenda, making this year a good opportunity for Thai entrepreneurs to make use of new and existing FTAs to penetrate global markets,” she said.

Thai food exports sees 6.3% growth YOY in first four months

Chotima added that the department had been negotiating with current and potential partners to secure more FTA deals that cover a wider range of products and benefits, including members of the European Union, European Free Trade Association, Canada and South Korea.

The department also reported that last year Thailand exported foods to FTA partners worth 820 billion baht, increasing 12.1% (YoY), with China, Japan and ASEAN the biggest markets.

Thanks to FTAs, Thailand emerged as ASEAN’s top exporter of rice, canned and processed seafood, processed chicken and sugar in 2023, while the kingdom ranked second globally for the first three products, and third globally for sugar, said Chotima.