exports

  • Business News

    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 News

    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 News

    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 News

    Red sea conflicts could disrupt global trade, Thai economy at risk

    The business world is on high alert as the ongoing conflicts in the Red Sea and the Israel-Hamas war pose potential risks to the global economy. The strategic planning unit of the Commerce Ministry is urging stakeholders to keep a close watch on the situation and its potential implications. The conflicts could bring both direct and indirect negative impacts on…

  • Business News

    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 News

    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 News

    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 News

    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 News

    Myanmar’s central bank extends deadline for exporters’ foreign earnings deposit

    A mandate issued by the Central Bank of Myanmar demands exporters shipping goods beyond Asian territory to deposit their foreign earnings in domestic banks within 90 days, a significant increase from the previous 60-day requirement. The central bank, in a statement released on Monday, also directed companies exporting within Asia to deposit their earnings within 45 days, rather than the…

  • Business News

    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 News

    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 News

    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 News

    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 News

    Revved up worries: Middle East turmoil puts Thai car exports in the hot seat

    The Federation of Thai Industries’ Automotive Industry Club warned that the ongoing Middle East conflict could potentially disrupt car exports to the region. Particularly, the popular pickup exports could see a downturn if the dispute remains unresolved. Given the current stagnation in domestic sales, the Thai auto industry relies significantly on its exports. Surapong Paisitpatanapong, the vice-chairman of the Federation…

  • Business News

    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 News

    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 News

    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 News

    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 News

    Thai car production dips 0.13% in April as exports surge 43.53%

    Thailand experienced a slight decline of 0.13% in car production in April compared to the previous year, with a total of 117,636 units produced, according to the Federation of Thai Industries (FTI). This decrease was primarily due to a drop in truck production. However, the country witnessed a significant surge in auto exports during the same month, owing to a…

  • Business News

    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 News

    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…

  • Economy News

    Thailand is the world’s biggest exporter of durian

    Thailand, known for its rich culture and stunning beaches, is also the world’s biggest exporter of the notorious fruit, durian. According to the Trade Policy and Strategy Office, Ministry of Commerce, Thailand has retained its top spot for durian exports, accounting for a whopping 93.3% of the global market share, Pattaya Mail reported yesterday. In 2022, Thailand exported fresh durian…

  • World News

    Resumption of live pig exports from Indonesia’s Pulau Bulan to Singapore could take a year

    The Singapore Food Agency (SFA) has indicated that it could take up to a year for Indonesia’s Pulau Bulan to resume live pig production and exports. Singapore halted imports of live pigs from the island after African swine fever (ASF) was detected in some pig carcasses last month. The affected carcasses, part of a consignment of live pigs from Pulau…

  • Business News

    Thailand’s export forecast for 2023 suggests 1% growth due to China’s economic recovery

    Thailand’s exports are predicted to experience a 1% increase in 2023, with a more significant improvement anticipated later in the year due to the recovery of China’s economy, according to the Thai National Shippers’ Council (TNSC). In a news conference, council chairman Chaichan Chareonsuk stated that although exports faced a downturn in the first quarter, a resurgence is predicted for…

  • Business News

    Thailand is the biggest exporter of condoms in the world

    Condoms are among five products that Thailand exports more than any other country in the world, according to data from the global trade insights website kidka.com, reports Prachachat. Today, the Ministry of Commerce’s Director of the Trade Policy and Strategy Office, Poonping Naiyanapakorn, revealed that Thailand was the champion exporter of five outstanding Thai products in 2022… Fresh Durian Thailand…

  • Bangkok News

    New Japanese food export platform launched in Bangkok

    Following Japanese PM Fumio Kishida’s visit to Thailand, Japan has launched a new platform in Bangkok. The platform, called Japan Food Export Platform, is meant to help boost exports of Japanese farm products and foodstuffs. At a meeting yesterday, Thailand’s Agriculture and Cooperatives Minister Chalermchai Sri-on said that talks between the countries are “a good opportunity” to strengthen their agricultural…

  • Thailand News

    China warns Thailand to fix durian Covid-19 problem or face export ban

    Officials at the Mohan border checkpoint in China have given Thailand 5 days to fix the issue of Covid-19 traces being found on exported durian. According to a Nation Thailand report, Chinese officials have threatened to slap an export ban on Thai durian if the problem is not resolved. Sanchai Puranachaikiri from the Thai Fresh Fruit Traders and Exporters Association…

  • Economy News

    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…

  • Thailand video news

    Thailand News Update | Thai evacuees from Ukraine test positive

    Thai police raided a home suspected of being the headquarters for an illegal gambling website that swindled more than 100 million baht from South Korean victims. Officers arrested four South Korean men and a Thai woman who was renting the home in Samut Prakan, just southeast of Bangkok. The suspects face charges of organising, advertising, and inviting people to gamble…

  • World News

    Asian stocks rise with new Russian sanctions, market volatility increases worldwide

    Asia markets ticked higher at opening on Friday, encouraged by a rebound of the US stock market, after Russia was struck with a flurry of international sanctions. US President Joe Biden has announced a new round of sanctions against Russia, crippling its ability to conduct business in major currencies. Many indexes were in the green on Friday morning, including Tokyo’s…

  • Thailand News

    Merchants ask government to import pork as local prices surge

    Have you noticed that many Thai street vendors have upped their price for pork dishes by around 5 baht? Some have even stopped selling pork dishes altogether. The price of pork has surged in Thailand and many merchants are now demanding the government to import pork quickly to control the fluctuating prices. They say the high prices are pushing away…

  • World News

    Commerce minister welcomes re-opening of 2 southern border checkpoints

    Thailand’s Commerce Minister, Jurin Laksanawisit, has welcomed the re-opening of 2 border checkpoints in the southern province of Narathiwat, saying it will boost trade with Malaysia. Both the Tak Bai and Buketa checkpoints re-opened yesterday, with Jurin predicting an increase of at least 600 million baht a year in bilateral trade between Thailand and Malaysia. The Bangkok Post reports that…

  • Thailand News

    Thai government mulls over regulations for locally-made AstraZeneca exports

    The Thai government is looking into regulations for exporting the locally-made AstraZeneca Covid-19 vaccine, possibly limiting the volume shipped overseas. The consideration comes as Thailand battles its most severe wave of Covid-19 and the emergence of the highly transmissible Delta variant. The number of active cases continues to hit record highs. With a limited supply of vaccines, health officials have…

  • Thailand News

    “Bubble and seal” method to contain outbreaks at factories, keep business afloat

    With a number of Covid-19 clusters at large factories, the Thai government has been working to contain the virus quickly and rollout of vaccinations to the workers to prevent a downfall in the industrial sector. One of the controversial methods of containing the virus is the so-called “bubble and seal” policy at factories where a cluster of infections has been…

  • Economy News

    Thailand increases durian exports to China by 14% this year

    Thailand has exported 14% more durian to China in this year’s first quarter over the same period last year. The Trade Negotiations Department Director General says Thai durian auctions in the first quarter secured 186 million, making up 88% of the total amount of Thai durian exports to world markets. Last year, Thailand exported US1.5 billion worth of durian to…

  • Economy News

    Covid-19 again lowers Thai economic growth forecast to 2.3%

    Thailand’s economic growth forecast was lowered to 2.3% as the tourism outlook remains bleak as Covid-19’s third wave pummels the country. Back in October 2020, the Finance Ministry’s Fiscal Policy Office had originally predicted a 4.5% growth for Thailand’s GDP, when Covid-19 seemed to be waning in the country. By January, as the second wave hit, projections were reeled in…

  • World News

    Myanmar preparing to shut down import of Thai soft drinks via land transport

    Thailand’s Commerce Minister is preparing to hold urgent talks with Myanmar following the news that Burmese officials are planning a ban on the import of Thai soft drinks over land. Jurin Laksanawisit says the reason for the ban is not known, with Myanmar insisting only imports via ship will be allowed. This ramps up the cost for Thai businesses and…