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.
How the COVID-19 situation may affect Thailand’s export sector
Thailand’s export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six months.
The Thai National Shippers’ Council has raised a concern that the export sector might face a 200-300 billion baht toll should the COVID-19 situation not be brought under control in six months, urging the government to speed up the vaccine rollout to all segments of the population.(more…)
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