Thai exports
- Thailand News
Thailand boosts durian export checks after China ban
Thailand’s Ministry of Agriculture and Cooperatives is set to enhance its contamination screening processes for durians before export to China, following a temporary ban imposed by the country. Agriculture and Cooperatives Minister Narumon Pinyosinwat announced yesterday, January 14, that each durian shipment will undergo testing for Basic Yellow 2, a cancer-causing dye, along with cadmium and durian borers, prior to…
- Business News
Thailand targets US$308bn exports by 2025 amid trade optimism
The Commerce Ministry has ambitious plans to boost Thailand’s export sector, setting a target of 2% to 3% growth for 2025. The goal, projected to bring in US$305 to US$308 billion, follows a robust performance in 2024, where export growth is expected to reach 5%, generating a record US$300 billion. These figures reflect optimism driven by the electronics, agricultural, and…
- Business News
Thailand to finalise free-trade deal with EFTA by January
Thailand is set to finalise a free-trade agreement with the European Free Trade Association (EFTA) by January next year, aiming to boost its export market and draw European investors. This announcement from the Ministry of Commerce emphasises a strategic step forward in Thailand’s economic expansion. Commerce Minister Pichai Naripthaphan confirmed the completion of negotiations for the Free Trade Agreement (FTA)…
- Thailand News
Thailand appetite for exports, food security at key China summits
Promoting Thailand’s exports and tackling food security issues have taken centre stage at two significant regional meetings in China, as declared by Prime Minister Paetongtarn Shinawatra yesterday, November 6. The 38 year old Thai PM is participating in the 8th Greater Mekong Subregion (GMS) Economic Cooperation Summit and the 10th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) summit, both held in…
- Business News
Thai baht surge hits exporters and tourism revenues
Thailand’s exporters and tourism sector are feeling the squeeze as a rapid appreciation of the Thai baht continues to impact revenue. The central bank attributed this surge to a weak US dollar and stronger regional currencies, such as the Chinese Yuan and Japanese Yen. Yesterday, September 30, the baht reached a 31-month peak at 32.235 against the US dollar, marking…
- Thailand News
China approves three more Thai poultry plants for export
Thailand’s Department of Livestock Development announced that the General Administration of Customs of China (GACC) recently approved and registered three additional Thai poultry processing and production facilities for export. This approval brings the total number of certified Thai poultry plants exporting to China to 26. The continuous approval of Thai poultry export facilities by China reflects confidence in Thailand’s stringent…
- Business News
Export-tional growth: July’s 15.2% surge is highest in 28 months
Exports in July surged by 15.2%, marking the highest growth rate in 28 months, attributed to easing inflation and increased purchasing power among trading partners. Poonpong Naiyanapakorn, the Director-General of the Trade Policy and Strategy Office (TPSO), reported that July’s exports rose by 15.2% to US$25.7 billion (938 billion baht), primarily driven by the cooling global inflation, which considerably enhanced…
- Business News
Thai exports to grow by 1 to 2% amid global uncertainties
The Thai National Shippers’ Council (TNSC) expects a modest expansion in export value this year, projecting a growth rate of 1 to 2%. TNSC Chairman Chaichan Chareonsuk confirmed the council’s forecast for 1 to 2% export growth this year, as of August 2024. Despite this optimistic outlook, the TNSC remains cautious due to several unpredictable factors expected in the second…
- Thailand News
Thailand to boost exports with soft power in China and Hong Kong
In a move to boost exports, Thailand’s Department of International Trade Promotion (DITP) is targeting China and Hong Kong markets with a potent mix of soft power. From tantalising Thai food to fashion and films, the DITP is pulling out all the stops. DITP Director-General Phusit Ratanakul Seriroengrit announced Monday that eight offices in China and Hong Kong are spearheading…
- Business News
Thai exports expected to grow 1-2% despite geopolitical tensions
The Thai National Shippers’ Council (TNSC) anticipates a modest increase in export value by 1 to 2% in the latter half of this year, despite ongoing geopolitical tensions in Europe and the Middle East. Chairman Chaichan Chareonsuk confirmed that the TNSC is maintaining its export growth forecast at 1 to 2% for the year. However, the council remains cautious due…
- Business News
Tuna boom: Thai exports make a splash with double-digit surge
Thai exports of canned tuna have experienced a notable surge, increasing by over 13% in the first five months of this year. According to the Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn, the value of these exports reached US$979 million during this period, reflecting a 13.4% year-on-year growth. Thailand exported 221,092 tonnes of canned tuna this…
- Business News
Thailand aims for US$30 billion bilateral trade with Malaysia
The government is set to participate in the Joint Trade Committee (JTC) meeting with Malaysia on July 4, aiming to enhance bilateral trade to US$30 billion by 2025. Chotima Iemsawasdikul, Director-General of the Trade Negotiations Department, announced that Commerce Minister Phumtham Wechayachai will attend the third JTC meeting between Thailand and Malaysia in Kuala Lumpur. This will be Thailand’s inaugural…
- Thailand News
Thailand’s durian diplomacy: Cracking the chinese market wide open
Thailand is going all out to secure its crown in the lucrative Chinese durian market. The government has rolled out a series of innovative strategies, including high-tech farming enhancements and stringent quality controls, to ensure Thailand remains the top durian supplier to China. Prime Minister’s Office spokesman Chai Wacharonke announced at a press conference that Thailand has significantly bolstered its…
- Thailand News
Thai private sector seals 40 million baht meal deal with Dubai
Thai private sector, led by Phumtham Wechayachai, signed a significant food export agreement with Dubai, kicking off with an immediate order worth 40 million baht and aiming to exceed 100 million baht by year-end. Efforts to expand into the Middle Eastern market are now underway. Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai revealed that he witnessed the signing…
- Thailand News
Thailand and Bhutan start free trade talks to boost trade by 2025
Thailand and Bhutan yesterday officially began negotiations for a free trade agreement (FTA), aiming to finalise the deal by next year. Deputy Commerce Minister Napintorn Srisunpang confirmed that Bhutanese Prime Minister Tshering Tobgay has signed the terms of reference to initiate the FTA discussions. Both nations see this agreement as a crucial step to enhance bilateral trade and investment, dismantle…
- Thailand News
Mango mania: Thailand’s sweet export boom
Thailand’s mango exports soared by a staggering 130% in the first quarter of this year, reaching an impressive 1.6 billion baht, compared to the same period last year. Not to be outdone, exports of sticky rice saw a notable increase of 13%, totalling about 1 billion baht. Chotima Iemsawasdikul, the Director-General of the Trade Negotiations Department, attributed this surge to…
- Business News
Thai shippers forecast modest growth amid wage increase concern
The Thai National Shippers’ Council (TNSC) projects a 1% to 2% growth in exports for the current year and urges a thoughtful approach to the proposed increase in the daily minimum wage, supplemented by government support via the wage committee mechanism. TNSC chairman Chaichan Chareonsuk anticipates a 1 to 2% increase in the nation’s exports by March this year. Chaichan…
- Thailand News
South Africa and Thailand boosts agricultural ties
The agricultural sector has become a significant beneficiary of the thriving bilateral relationship between Thailand and South Africa, revealed South Africa’s Ambassador to Thailand, Darkey Africa in a recent interview. This conversation was held to commemorate three decades of South African democracy and the bilateral relationship between the two nations including a strengthening of agricultural ties. Africa underscored the positive…
- Thailand News
Potential Australian trade barrier could impact Thai auto exports
The Thai Automotive Industry Association (TAIA) has issued a warning that a prospective trade barrier, set to be imposed on new cars shipped to Australia next year, may impact auto exports. The trade barrier, known as the new vehicle efficiency standard, is a regulation being developed to limit carbon dioxide emissions per kilometre from new cars sold in Australia, according…
- Business News
Growth in Thai exports expected in Q1 due to stable freight costs
Thailand is set to experience a 1 to 2% growth in export value during the initial quarter of the year, fuelled by stable freight costs and rising shipments of key commodities such as rubber, rice, pet food, electronics, and automobiles. This positive forecast is shared by Keerati Rushchano, the permanent secretary of commerce, who anticipates a steady growth trajectory as…
- Business News
FTI urges support for Thai SMEs to boost global herbal medicine exports
The Federation of Thai Industries (FTI) urged the government to strengthen its support for small and medium-sized enterprises (SMEs) involved in herbal development and production. The move is aimed at enhancing their global competitiveness and propelling Thailand into the top 10 herbal medicine exporters worldwide. SMEs in the sector are currently struggling with insufficient funds for research and development, and…
- Business News
Thai export growth projected at 2-3% amid global economic recovery
The UTCC (University of the Thai Chamber of Commerce) predicted a revival in exports, projecting a growth of 2-3% for the year, which equates to a value between US$290-293 billion. This shows a significant improvement from the 1% contraction experienced in the previous year. The UTCC’s president, Thanavath Phonvichai, attributed this predicted resurgence largely to the global economic recovery and…
- Thailand News
Thai poultry exports soar, feathering their cap as world’s third-largest
With over 100,000 tonnes of chicken valued at a staggering 100 billion baht shipped abroad last year alone, Thailand has secured its spot as the world’s third-largest exporter, trailing only behind Brazil and the US. Thailand’s poultry industry has been on an upward trajectory, with Chaweewan Kampa, President of the Poultry Promotion Association of Thailand, hailing the nation’s climb to…
- Business News
Thai government aims to boost cross-border trade despite 2023 contraction
The Thai government is aiming to reinvigorate its cross-border trade, including transit trade, this year following a 2.6% contraction in 2023, which saw the value fall to 1.7 trillion baht (US$48 billion). The Foreign Trade Department’s director-general, Ronnarong Phoolpipat, stated that the Commerce Ministry would expedite cross-border and transit trade according to the government’s investment promotion strategy for 2024-27. To…
- Thailand News
NESDC: China’s economic slowdown could have significant effect on Thailand
Thailand is on high alert as the National Economic and Social Development Council (NESDC) closely monitors the ripple effects of China’s economic deceleration. Despite initial projections, China’s sluggish growth last year has cast shadows over Thailand’s economic prospects for the coming year. NESDC’s chief, Danucha Pichayanan, predicts Thailand’s economic expansion in 2024 to hover between 2.7% and 3.7%, with a…
- Thailand News
Export of Thai fruit faces competition from China
Deputy Commerce Minister Napintorn Srisunpang reveals a bumpy road ahead, with China’s market becoming a fierce battleground for Thai fruit exporters. In the opening 10 months of last year, Thailand exported 1.74 million tons of fruits, pocketing 174.27 billion baht. Thailand’s fruit royalty, including durians, longans, mangosteens, mangoes, and pineapples, dazzled the export scene. However, trouble lurks in the dragon’s…
- Business News
Thailand’s central bank forecasts export revival and low inflation
The Bank of Thailand (BoT) anticipates an export revival in the coming year, as revealed in a recent statement. The Bank also projects low inflation rates for the same period, attributing it to government subsidies, albeit with a gradual increase within an acceptable range. Meeting minutes from the BoT’s November 29 monetary policy gathering, released on Wednesday, indicated that while…
- Business News
Thailand’s export sector sees recovery with third month of growth
The Director-General of the Fiscal Policy Office, Pornchai Thiraveja, announced that the export sector is showing signs of recovery, marking its third month of consecutive growth. Despite a year-on-year contraction of 2.7% in the value of exports between January and October, monthly figures indicate a resurgence, with an 8% rise in October to US$23.5 billion. Quarterly analysis shows a decrease…
- Business News
Export growth: Thailand’s commerce ministry targets US$288 billion by 2024
The Commerce Ministry of Thailand has established an export growth goal for next year, aiming for an increase of 1.99%, which equates to approximately US$288 billion or 10 trillion baht. This information was shared by permanent commerce secretary, Keerati Rushchano, following a meeting attended by Commerce Minister Phumtham Wechayachai, other ministry heads and representatives from the private sector. The gathering…
- Business News
Thai shippers predict less than 1.5% contraction in 2023 exports
The Thai National Shippers’ Council (TNSC) expressed confidence in a less than 1.5% contraction in the country’s export performance for 2023. This optimistic outlook comes on the heels of export growth recorded in both August and September and an expectation for continued orders in the year’s final quarter. TNSC Chairman Chaichan Chareonsuk cited the Commerce Ministry’s latest data, which showed…
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