exports

  • Thailand NewsThailand’s golden rice grain faces storm from strong baht and India

    Thailand’s golden rice grain faces storm from strong baht and India

    Thailand’s rice exports are teetering on the edge of crisis with looming threats from a strong baht and potential policy changes in India. The Thai Rice Exporters Association has cast a shadow over next year’s outlook, predicting exports might flop below the eight million tonnes mark. Chookiat Ophaswongse, the association’s honorary president, revealed the unsettling news despite unabated flooding wreaking…

  • Thailand NewsThai rice prices fall in a grainy twist as Indonesian bids drop

    Thai rice prices fall in a grainy twist as Indonesian bids drop

    Thai rice prices plunged to their lowest levels in over a year as Indonesian bidders were compelled to lower their high prices in a recent auction. Meanwhile, Indian rice export prices continued their downward trend, reaching an eight-month low. Indian 5% broken parboiled rice was priced at US$534 (around 17,000 baht) per tonne this week, marking the lowest level since…

  • Economy NewsThailand’s economy grows 2.3% in Q2, surpassing forecasts

    Thailand’s economy grows 2.3% in Q2, surpassing forecasts

    Thailand’s economy roared back to life in the second quarter, fuelled by a surge in consumption, tourism, and exports, according to today’s eye-popping official data. This economic boost has prompted the government to up its growth forecast for the year. The National Economic and Social Development Council (NESDC) revealed that Southeast Asia’s second-largest economy expanded by 2.3% from the same…

  • Business NewsThailand’s food exports to rise by 8.8%, hitting 1.6 trillion baht

    Thailand’s food exports to rise by 8.8%, hitting 1.6 trillion baht

    Thailand’s food exports are set to rise by 8.8% year-on-year, reaching 1.6 trillion baht this year, according to the National Food Institute (NFI). This growth is largely attributed to increasing global demand and a decline in raw material prices, said the President of the NFI, Supawan Teerarat. “Raw materials such as tuna, sugar, soybeans, and wheat have seen a price…

  • Business NewsHarman hits the gas with Thailand factory for electronic auto boost

    Harman hits the gas with Thailand factory for electronic auto boost

    Harman, a subsidiary of Samsung Electronics based in the United States, has announced the establishment of its first factory in Southeast Asia, selecting Thailand as the location for its production hub aimed at exporting electronic automotive products. Harman’s head of operations, Sami Krimi, stated his excitement at the project. “Thailand’s extensive experience in the automotive and related industries has encouraged…

  • Thailand NewsThai export growth set to miss target amid global challenges

    Thai export growth set to miss target amid global challenges

    The anticipated growth in Thai exports this year is poised to fall short of expectations due to a mix of external and internal hurdles, as outlined by a recent assessment from a private sector panel. During its recent meeting, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) upheld its projection for export growth in 2024, estimating it to…

  • Business NewsBrewing success: Thai coffee market percolates with growth

    Brewing success: Thai coffee market percolates with growth

    The Thai coffee market is experiencing significant growth, driven by evolving consumer lifestyles and increased demand for both domestic consumption and export processing. The Director-General of the Trade Policy and Strategy Office, Poonpong Naiyanapakorn underlined Thailand’s potential to process raw coffee into finished coffee products for export, a key value-adding practice. From 2021 to 2023, the Thai coffee market expanded…

  • Thailand NewsThailand’s tech exports face threats as Vietnam takes lead

    Thailand’s tech exports face threats as Vietnam takes lead

    Thailand’s export sector, which contributed 54.5% of GDP last year excluding services, faces potential disruption due to rapid technological advancements. Vietnam has surpassed Thailand in exporting high-tech products, emerging as a key production base for the downstream electronics industry. The global market’s recovery, particularly in computers, semiconductors, and smartphones, has driven this demand. Thailand mainly exports intermediate electronics products like…

  • Thailand NewsAuthorities destroy over three tonnes of unripe durians in Uttaradit

    Authorities destroy over three tonnes of unripe durians in Uttaradit

    Authorities in Uttaradit Province ordered the destruction of over three tonnes of unripe durians intended for export to China. The move followed complaints from the owner of a packing plant who suspected that substandard durians were mixed with quality ones, potentially damaging the country’s reputation. Today, the inspection team led by Police Major General Sutthipong Pektong, Superintendent of Uttaradit Provincial…

  • Business NewsCassava crunch: Thai exports take a dip with 16.4% drop in Q1

    Cassava crunch: Thai exports take a dip with 16.4% drop in Q1

    Thai exports of cassava and cassava products fell by 16.4% year-on-year in the first quarter, largely due to a reduction in cassava chip output. The Director-General of the Trade Policy and Strategy Office, Poonpong Naiyanapakorn, reported that the export value of cassava and cassava products reached 33.2 billion baht for the first three months of this year, marking a 16.4%…

  • Business NewsChina’s imports and exports rebound showing positive shift in April

    China’s imports and exports rebound showing positive shift in April

    After experiencing a contraction in the previous month, China’s imports and exports rebounded in April, according to customs data released today. This positive shift indicates a promising enhancement in both local and international demand, providing a vital lift to the nation’s fragile economic recovery. The upswing in data suggests that the numerous policy support measures introduced in recent times are…

  • Business NewsExport woes: March sees customs dip by 10.9%

    Export woes: March sees customs dip by 10.9%

    March witnessed a significant 10.9% drop in customs-based exports from the previous year, according to an announcement by the Commerce Ministry today. The decline was notably more severe than the 4.5% year-on-year fall predicted by a Reuters poll, marking a stark contrast to the 3.6% rise observed in February. Government data revealed a 9.7% and 19.3% decrease in exports to…

  • Business NewsDurian exports to undergo regulatory revamp in Thailand

    Durian exports to undergo regulatory revamp in Thailand

    Thailand’s durian exports are set for a regulatory overhaul to ensure quality and competitiveness on the global stage, according to government spokesperson Chai Wacharonke. As the leading global durian exporter, Thailand’s move towards stricter quality control aims to bolster its market position. The export of durians has become a significant revenue source for the country, with earnings reaching 120 billion…

  • Business NewsThailand urged to diversify agricultural exports to boost value

    Thailand urged to diversify agricultural exports to boost value

    A study by the Commerce Ministry urges agricultural businesses to widen their export markets to mitigate risk and boost the value of food products and processing. The advice follows findings that the majority of export-oriented agricultural goods are commodities or those with only rudimentary processing. Deputy Commerce Minister Napintorn Srisunpang disclosed that agricultural and agro-industrial products accounted for 17.3% of…

  • Business NewsThai rice exporters stir in choppy waters as challenges loom ahead

    Thai rice exporters stir in choppy waters as challenges loom ahead

    Rice exporters in Thailand are bracing for a challenging year ahead due to a host of risk factors, including fluctuating exchange rates, waning competitiveness of Thai rice, fierce price competition, the potential impact of the El Niño weather phenomenon, and India’s restrictive export policies, as reported by the Thai Rice Exporters Association. The association’s honorary president, Chookiat Ophaswongse, referred to…

  • Thailand NewsThai Hong Kong Trade Association signs MoU with Industries Federation

    Thai Hong Kong Trade Association signs MoU with Industries Federation

    The Federation of Hong Kong Industries (FHKI) and the Thai Hong Kong Trade Association (THKTA) have joined forces, signing a Memorandum of Understanding (MoU) that promises to revolutionise bilateral trade. FHKI Chair Steve Chuang made the announcement on January 24, declaring that the Association is strategically eyeing ASEAN and Thailand as prime territories for Hong Kong manufacturers looking to navigate…

  • Business NewsRising Red Sea tensions to spike freight rates warns EconThai

    Rising Red Sea tensions to spike freight rates warns EconThai

    Global supply chains are bracing for further potential disruptions, as rising tensions in the Red Sea are projected to escalate freight rates in February, according to the Employers’ Confederation of Thai Trade and Industry (EconThai). The organisation has already noted an increase in freight rates by 1.89 to 2.42 times, a trend expected to persist should the tensions continue. Tanit…

  • Thailand NewsRice-rumble rocks markets: Thailand anticipates 15% export dip, global repercussions loom

    Rice-rumble rocks markets: Thailand anticipates 15% export dip, global repercussions loom

    In a rice-rumble that could shake global markets, Thailand’s rice exports are poised to plunge by a staggering 15% this year. Thailand, the rice heavyweight, is set to face a double whammy. Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, predicts a dip in demand from Indonesia, last year’s top buyer. “Indonesia, after its presidential election next…

  • Thailand NewsThailand’s export surge signals global economic boom

    Thailand’s export surge signals global economic boom

    Thailand‘s exports have skyrocketed for the fourth month in a row, unleashing economic fireworks just in time for the festive season. Thailand’s exports are on a jaw-dropping winning streak, marking a fourth consecutive monthly surge in November. Ministry of Commerce Permanent Secretary Keerati Rushchano explains this economic rollercoaster. “Exports of goods showed a remarkable expansion across the board, with agricultural…

  • Economy NewsThailand urges Australia to expand trade and investment ties

    Thailand urges Australia to expand trade and investment ties

    The Commerce Minister of Thailand, Phumtham Wechayachai, has urged Australia to broaden their trade and investment ties, as well as discover new avenues for economic collaboration. Following his recent discussion with Australian ambassador Angela Macdonald, he revealed that Thailand views Australia as a vital ally in the Pacific and a key collaborator in devising joint economic strategies to enhance trade,…

  • Business NewsExports grow for fourth consecutive month in Thailand misses projections

    Exports grow for fourth consecutive month in Thailand misses projections

    November marked the fourth consecutive month of growth for Thailand’s customs-based exports, which saw a 4.9% rise from the same period last year, according to data from the customs department. However, this fell short of the projected 6.3% year-on-year increase anticipated in a Reuters poll. Last month, October had witnessed an 8% year-on-year rise. In an unexpected turn, imports for…

  • Business NewsThai car exports surge 12.2% in October despite domestic sales slump

    Thai car exports surge 12.2% in October despite domestic sales slump

    Thai car exports witnessed a 12.2% surge in October, reaching 105,726 units, thanks to the escalating demand for pickups primarily in the Middle East. However, domestic sales didn’t keep pace, suffering from the burden of high household debt. The Federation of Thai Industries (FTI)’s Automotive Industry Club reported robust sales in other markets last month, including Australia, Europe, North America,…

  • Business NewsBAAC plans to boost export of high-value agricultural goods

    BAAC plans to boost export of high-value agricultural goods

    Chatchai Sirilai, the president of the Bank for Agriculture and Agricultural Cooperatives (BAAC), stated that the bank will augment its role as a facilitator for the export of high-value agricultural goods. This move is aimed at increasing income for farmers. The BAAC’s strategy is focused on nurturing a new generation of farmers who concentrate on producing quality products, rather than…

  • Business NewsSweet setback: Thailand’s sugar exports face sticky situation with government controls

    Sweet setback: Thailand’s sugar exports face sticky situation with government controls

    Thailand’s sugar exports, which sit second globally behind Brazil, are threatened with potential delays in the coming year. This comes after the Thai government implemented new controls to guard the domestic supply and curb smuggling. The newly instated regulations require official approval for the export of any quantity exceeding one tonne, a move that some traders have voiced concerns could…

  • Business NewsThailand’s commerce minister to stimulate exports, tackle Q4 slump

    Thailand’s commerce minister to stimulate exports, tackle Q4 slump

    Thai Commerce Minister Phumtham Wechayachai is set to engage in dialogue with the private sector this week with the aim of stimulating exports and reviving the nation’s Q4 performance. The meeting is scheduled for September 27, as stated by Phusit Ratanakul Sereroengrit, the head of the International Trade Promotion Department, with the intent to evaluate the export scenario and devise…

  • Business NewsExport growth remains uncertain amid high global interest rates in Thailand

    Export growth remains uncertain amid high global interest rates in Thailand

    In a recent development, the Thai National Shippers’ Council (TNSC) has adjusted its export growth outlook to fall between a negative 0.5% and a positive 1%. This stark revision from the previously projected 0 to 1% growth range primarily attributes to looming global uncertainties, particularly concerning key trading counterparts in the US, the EU, and China. High international interest rates…

  • Economy NewsMedical glove exports decline amid allergy concerns and easing Covid-19 cases

    Medical glove exports decline amid allergy concerns and easing Covid-19 cases

    The export of medical gloves made from rubber latex is expected to continue its decline this year, as Covid-19 infections ease and some countries impose bans on natural rubber gloves due to allergy concerns, according to the Office of Industrial Economics (OIE). The decline in glove exports has been significant since last year, impacting Thailand, Indonesia, and Malaysia, said Warawan…

  • Economy NewsThai exports decline for seventh month as global demand slows

    Thai exports decline for seventh month as global demand slows

    The Thai Ministry of Commerce has reported a decline in the nation’s export value for the seventh consecutive month. In April, the value dropped by 7.6% compared to the previous year, a significantly larger decrease than the 2% fall anticipated by economists. April’s exports were valued at US$21.72 billion, a notable decrease from March’s 12-month high of US$27.65 billion. Despite…

  • Business NewsThailand aims for 80% global trade coverage with new FTAs by 2027

    Thailand aims for 80% global trade coverage with new FTAs by 2027

    Thailand is aiming to expand its free trade agreements (FTAs) to cover 80% of its global trade with over 50 countries by 2027, according to Auramon Supthaweethum, director-general of the Trade Negotiations Department. The department is exploring the feasibility of establishing new FTAs with various countries and trade blocs, including Israel, Bhutan, South Korea, the Pacific Alliance, the Southern African…

  • Business NewsSingapore’s key exports drop for seventh month amid electronics slump

    Singapore’s key exports drop for seventh month amid electronics slump

    Singapore‘s non-oil domestic exports (NODX) suffered a decline for the seventh consecutive month, with a 9.8% drop in April compared to the same month last year. This is according to data from Enterprise Singapore, which also revealed an 8.3% contraction in March. The decline in April was worse than the 9.4% drop predicted by a Reuters poll. The slump in…