Thailand records lower than expected 4.7% year-on-year rise in December exports
Published on: January 26, 2024.
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Thailand’s Exports Continue to Grow for Fifth Straight Month
Thailand’s customs-based exports showed impressive growth for the fifth consecutive month in December, rising by 4.7% compared to the same period last year, according to the commerce ministry. This figure falls short of the 6.0% increase predicted in a Reuters poll but still marks a significant achievement. In November, there was a 4.9% rise in exports. Meanwhile, imports dropped by 3.1% year-on-year in December, resulting in a trade surplus of $0.97 billion.
Exports to the United States increased by 0.3% in December compared to the previous year. However, there was a decline of 3.7% in shipments to Japan. On the other hand, exports to China saw a positive growth of 2%.
For the full year of 2023, imports dropped by 3.8% annually, and exports decreased by 1%, leading to a trade deficit of $5.2 billion. In light of these figures, the commerce ministry has set a target of 1.99% growth in exports for the current year.
Rice Exports Flourish in Thailand
Notably, December saw a 4.1% increase in rice export volumes from the previous year. This positive trend continued throughout 2023, with a 13.7% rise in rice exports, reaching a total of 8.76 million metric tons. Thailand has long been renowned as one of the world’s leading rice exporters, and these figures further solidify its position in the global market.
For more details on rice exports, visit rice exporters and Pakistan rice exporters.
Source: BRecorder.com
