Thailand’s exports in May grow 18.4% with a value of 31.044bn US dollars
Thailand’s exports in May grew by 18.4%, reaching 31.044bn US dollars, marking the highest growth in 38 months.
Thailand’s exports in May rose by 18.4%, marking the highest growth in 38 months, with a value of 31.044 billion US dollars, or 1.025 trillion baht, Commerce Minister Pichai Naripthaphan said on Wednesday.
Pichai stated that the export growth rate was the highest in 38 months since March 2022, and the May export value was the highest monthly export value for Thailand in recent history.
When export goods related to oil, gold, and armaments were excluded, May's export growth was 20.3%, Pichai added. He said this demonstrated that global trade had begun to recover after the US delayed its retaliatory tariffs.
The export growth also indicated a rising demand for technological products in line with the expansion of the digital economy, leading to significant growth in exports of electronic products such as computers, hard drives, and printed circuit boards, Pichai said.
He also noted that exports of agricultural products, such as tapioca, durians, mangosteens, and rambutans, had recovered for the first time in five months.
During the first five months of this year, Thailand’s exports grew by 14.9% compared to the same period last year. When excluding the value of gold, oil, and armament products, the export value during the first five months grew by 13.9%.
Pichai said exports of industrial products grew by 22.9% in May, marking the 14th consecutive month of growth, led by computers, PCBs, and vehicles.
He added that exports of agricultural products grew by 6.8% in May after slowing down for several months.
The top ten export markets with growth in May were:
- Hong Kong: 46.2%
- Canada: 40.2%
- US: 35.1%
- China: 28.0%
- Middle East: 22.8%
- South Asia: 22.3%
- Africa: 21.4%
- CLMV: 20.8%
- UK: 20%
- Russia and CIS: 18.0%
Pichai also noted that during the past eight months of Prime Minister Paetongtarn Shinawatra’s government, exports grew by 13.3%, generating revenue of 7.23 trillion baht or 215.798 billion US dollars for the country.
