BANGKOK (NNT) – The Ministry of Commerce has reported that Thailand’s rubber exports shot up by over 50%, year on year, during the first five months of 2021.
According to the ministry, exports were valued at THB70.34 billion, an increase of 50.80% from the same period last year, when it was valued at 46.65 billion baht. Export volume increased to 1.39 million tons, from 1.17 million tons during the same period last year.
Meanwhile, the Thai Rubber Association’s honorary president Lakchai Kittipol revealed that the substantial growth in rubber exports was due to the low export base last year, while the economy around the world is starting to recover and many countries are placing more orders.
He said the price of rubber exports this year was higher than last year. Exports continue to expand, but at a lower rate, because trade partners have already bought some of the stock. Value-added exports, this year, are expected to grow at least 25%, due to improvement in the world economy as compared to last year.