Tuesday, February 27, 2024

Thailand’s exports rose for the fifth consecutive month in December

Thailand’s customs-based exports rose 4.7% in December 2023, marking the fifth straight month of growth. Despite a 3.1% decrease in imports, the country achieved a trade surplus of $0.97 billion. The Ministry aims for a 1.99% export growth for the year, with significant increases in rice export volumes.

Thailand’s Exports Rise for Fifth Straight Month

Thailand’s customs-based exports increased by 4.7% in December 2023, marking the fifth consecutive month of growth. Despite a 3.1% year-on-year decrease in imports, the country achieved a trade surplus of $0.97 billion in December. The Ministry aims for a 1.99% growth in exports for the year, with rice export volumes showing significant increases in both December and the whole of 2023.

Trade Surplus Reaches $0.97 Billion

Imports fell by 3.1% year-on-year, resulting in a trade surplus of $0.97 billion. Shipments to the United States saw a slight increase, while those to Japan decreased and exports to China rose. For the full year of 2023, imports dropped by 3.8% and exports by 1%, leading to a trade deficit of $5.2 billion. The ministry has set a target for exports to grow by 1.99% in the current year.

Significant Increase in Rice Export Volumes

Additionally, rice export volumes saw an increase of 4.1% in December and rose by 13.7% for the entire year of 2023, reaching 8.76 million metric tonnes. This marks a positive trend in Thailand’s export performance.

Source : Thailand’s exports rose for the fifth consecutive month in December

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