Thailand’s exports in February surged by 31 per cent year-on-year, amounting to nearly US$19 billion, hitting a record high, Commerce Minister Porntiva Nakasai said on Friday.
Owing to strong global demand and the overall growing global economy, February’s export expansion was registered in all key sectors, particularly agricultural and agro-industry production which increased by 32.8 per cent, while key industrial products rose by 29.9 per cent.
Ms Porntiva added that exports to major markets gradually rose by 27 per cent while those to secondary markets were up 19.3 per cent. Exports to Latin American, Australian and Russian markets moved up 6.6 per cent.
The country’s exports in the first two months of this year totalled around $35.6 billion, up 26.7 per cent compared to the same period last year.
Meanwhile, Thailand’s imports in February amounted to $17.1 billion, up 22.5 per cent from a year earlier. Imports increased in all categories, including growth in raw material production by 6.8 per cent, capital goods 31.8 per cent and energy products 64 per cent.
Imports in January and February were valued at $34.7 billion with an increase of 27.7 per cent, compared to the same period last year. The country’s trade surplus in February was recorded at $1.76 billion and $910 million in the first two months of 2011.
Currently, the Commerce Ministry projected 2011 exports to expand by 10 per cent with an approximate value of $215 billion.
Source : MCOT News
RCEP and China: Reimagining the future of trade in Asia
The Regional Comprehensive Economic Partnership (RCEP) could eventually usher in an era of much deeper regional integration: for corporates doing business in the region, their future success may well hinge on how adeptly they manage to navigate the evolution of Asia’s trade landscape under the RCEP.
Last month, 15 countries in the Asia-Pacific region – including the 10 member states of the Association of Southeast Asian Nations (ASEAN) as well as China, Australia, Japan, New Zealand, and South Korea – signed the landmark Regional Comprehensive Economic Partnership (RCEP) on the final day of the 37th ASEAN Summit.(more…)
Will RCEP help drive South-east Asia’s Covid-19 recovery?
The Regional Comprehensive Economic Partnership (RCEP) was finally signed on Sunday November 15, on the sidelines of the annual summit of the Association of South-East Asian Nations (ASEAN).
Thailand ready to ink big Chinese-backed trade deal
The RCEP will cover all 10 Asean member states plus five partners: China, Australia, Japan, New Zealand, and South Korea and will take effect from the middle of 2021 if at least six Asean members and three partners agree to its terms.
Thailand approves COVID-19 AstraZeneca vaccine for emergency use
The first lot of 50,000 doses of COVID-19 vaccine developed by AstraZeneca will arrive in Thailand early next month, after...
Interprovincial travel in Thailand amid COVID-19 controls
The State Railway of Thailand (SRT) is suspending 57 additional train services from 26 January, 2021, as part of the...
Covid-19 puts flexible space markets under strain
Thailand to put world’s largest floating solar farm into use this June
The facility, which generates power on a water surface of 72 hectares, was originally scheduled for operation in December last...
TAT launches virtual tours to 4 top destinations in Thailand
Once inside an attraction, visitors can move around using the cursor, while some of the attractions have information about its...
Thailand’s automotive sector expected to produce 1.4m cars this year
This increase in output is a result of the recovery of domestic and export markets, with the annual output for...
Subscribe via Email
Forex1 week ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
Economics5 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
National5 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
Banking1 week ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?