exports
- 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…
- Video
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…
- Economy 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…
- Economy News
8% March growth for Thai exports in promising recovery
An 8% increase in exports is expected for March fueled by online officials connecting foreign buyers with Thai exporters. Commerce Minister Jurin Laksanawisit touted the success of this plan to have officials working as salesmen to promote Thai products worldwide, the results of which produced 14.4 billion baht in exports last year. The Trade Policy and Strategy Office will release…
- Economy News
China grows 18.3%, the only major economy to grow in 2020
China’s economy set a record for growth in Q1, 2021, marking an 18.3% jump in year-on-year figures, the biggest quarterly growth in almost 30 years. China only started publishing growth statistics in 1992, and this drastic increase is the fastest growth recorded since then. The figures, however impressive, are mainly due to what is called a “low base effect” where…
- Thailand News
Stuck ship partially freed, Thai exports look to bypass Suez
The massive container ship stuck in the Suez Canal, the world’s busiest trade routes, has been partially freed and refloated. The 400-metre cargo ship was pushed off track by strong wind and has been wedged sideways, blocking the trade route in Egypt. Thai exporters have been looking into bypassing the Suez Canal and some may still have to seek extensions…
- Economy News
US cuts Thailand’s tariff benefits after long-running pork dispute
Thailand’s duty-free privileges for US$817 million in exports with the US are to be revoked from the end of this year, according to US President Trump in an announcement yesterday. The President blamed a lack of progress in opening the Thai market to US pork products. Trump’s letter announcing the action follows more than 2 years of threats and negotiations…
- Economy News
Free Trade Agreement talks continue between Thailand and EU
Thailand is resuming trade talks with the European Union on the long-delayed Thai-EU free trade agreement. The 15th Thai-EU Senior Officials’ conference was held virtually between leading Thai and European trade officials this week. The push was on to have the Free Trade Agreement signed and sealed by the end of this year. Discussions were held regarding the ongoing affects…
- Economy News
Thailand tries 2-prong strategy to get perishables to China
Thailand is bypassing supply-chain roadblocks to deliver its perishables – mainly agricultural and food products – to China, its biggest market in Asia. Since Thailand shares no border with China, perishable goods like fruit and vegetables have traditionally been sent from Thai farms and warehouses by truck, going through either Vietnam or Laos. Ships and planes are also used, but…
- Business News
Thai exports hit new low, pandemic to blame
Thailand’s exports have dropped drastically and the Thai Ministry of Commerce blames the coronavirus pandemic for the low levels and the shrinking supply and demand market. In a report released yesterday, exports for May are the lowest they’ve been in 4 years. Worldwide lockdowns have caused production in Thailand to take a plunge, according to the director-general of the commerce…
- Economy News
Special boxes made for delivering smelly durian
You either love durian, or you hate it. But many people can agree, it smells bad… really bad. Some hotels and transportation services even ban the pungent fruit. Thailand researchers have now developed a special odour-proof boxes to be used to deliver durian. The box is important when selling the Thai fruit because just the smell of it can drive…
- Economy News
Thailand loses US free trade benefits worth billions of baht
Thailand loses duty free access for 42.2 billion baht in exports to the US market from today, 6 months after Washington warned it would pull back on trade privileges unless the kingdom committed to labour rights reforms. Once trade preferences for Thai products are removed they are subject to tax of between 4% and 5%, making them more expensive in…
- Business News
Shock rise in Thai exports
Defying expectations, Thai exports in March unexpectedly rose by 4.2%, with a total value of around 690 billion baht (22.4 billion US dollars) year-on-year, the biggest expansion in 8 months. The Commerce Ministry reported today that even excluding items like gold, oil, and weaponry, exports expanded 2.12%, For the first quarter of 2020, exports grew 0.9%. Excluding gold, oil and…
- Covid-19 News
Thailand’s 2020 exports to fall 500 billion baht
There is no doubt Thailand’s fragile export business is gong to be hit hard by the coronavirus outbreak. Following on from the impacts of the high Thai baht value, regional competition and the fallout from the US-China trade wars, Thailand is poised for one of its worst performing export years. “Under the worst-case scenario in which the coronavirus Covid-19 crisis…
- Covid-19 News
Thailand’s chicken egg exports banned for 7 days
“The 7 day ban is a trial period, if the situation does not improve by next week, we may consider extending the ban.” Deputy PMr and Minister of Commerce Jurin Laksanawisit says… “Currently domestic production capacity averages 40 million eggs per day, while Thailand’s daily consumption is 39 million, and 2 million were exported. To deal with the problem, the…
- Economy News
The almighty baht set to fall further despite rate cuts, stimulus
A lot has changed for the baht. It was only months ago that The Bank of Thailand considered drastic measures to rein in the rambunctious baht, whose massive gains in currency markets made it the darling of speculators. In December Kasikorn Bank released a report outlining reasons the baht “will remain strong into 2020.” The bank’s research arm forecast the…
- Economy News
Finance ministry announces new stimulus packages and tax breaks
Thailand’s Finance Ministry has announced a raft of new stimulus measures to help prop up parts of the Thai economy suffering under the impact of the coronavirus. They say the measures will assist “all sectors of Thai society currently affected by the Covid-19 situation”, which arrived at the same time as an economic slowdown, an export slump and drought. The…
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