Thailand’s September exports rose by 21.2 per cent, hitting a record high at US$18.06 billion year on year, Commerce Minister Porntiva Nakasai said on Wednesday.
The growth was registered across all key sectors, but was particularly noticeable in the agricultural and agro-industrial produce sectors which increased by 12.7 per cent.
Compared to a year earlier, shipments of rubber grew by 92 per cent while electronic devices were up 11.1 per cent. Electrical appliances rose 20.6 per cent and automobiles and vehicle parts expanded by 46.2 per cent.
Meanwhile, the volume of rice exports fell 4.5 per cent due to price competition with other major rice exporters as well as problems related to the release of stockpiled rice. Currently rice stored in the government’s stock and the private sectors’ stock consists of over ten million tonnes.
However, the ministry remains confident that Thailand’s annual rice exports can reach 8.5 tonnes as targeted earlier, Mrs Porntiva said.
Apart from the decrease of rice exports, the volumes of construction materials and sugar exports also dropped by 7.9 per cent and 51.9 per cent respectively.
The country’s exports in the first nine months of this year soared to a record high compared to the same period last year, increasing by 31.07per cent with some $143.14 billion in value.
Thailand to increase rice exports to 6 million tons this year
BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement
Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.
Cross-border trade is expected to grow up to 3-6%
BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.
Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.
According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.
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