Thailand’s March exports spike nearly 20% year on year

Last month, Thailand’s exports surged at an unexpectedly high rate, jumping by 19.5% when compared to the same time last year. A Reuters poll conducted in March had predicted the country’s exports would only rise by 2.4%. According to the Thai customs department data, 2 major products contributing to the export jump were gold, and electronics.

Gold exports in March were 11 times higher than last year, while shipments of hard disk drives rose 68% year-on-year. Passenger car exports increased 14%. The commerce ministry is planning to hold a briefing on the March trade data early next week.

Another product in Thailand, mango, also saw a surge in exports earlier this year. In the first 2 months of 2022, Thailand’s mango exports increased by $US11 million, up 15% compared to the same time last year. Last year, Thailand exported $93 million, or 3.1 billion baht worth of fresh mangoes to its Free Trade Agreement partner countries, according to the director-general of the Department of Trade Negotiations.

The director-general said this brought Thailand a 53% increase year on year. She said Thai mangos are popular because of their good quality, sweet taste and beautiful appearance. Also, Thai fresh mangos are available all year round in multiple varieties.

Thailand’s 28 FTA partner countries include China and Hong Kong, Japan, South Korea, Australia, New Zealand, India, Chile and Peru.

Last month, the value of Thailand’s exports was US$28.86 billion, while imports were also at an all-time high of US$27.40 billion in March.

SOURCE: The Star | Nation Thailand