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Thailand’s export to Russia plummets in 2022

Thailand’s export to Russia fell 43.3% to 585.44 million USD in 2022, reported the Thai Ministry of Commerce’s Department of International Trade on February 21.
Thailand’s export to Russia plummets in 2022 ảnh 1Illustrative image (Photo: The Nation)

Bangkok (VNA) – Thailand’sexport to Russia fell 43.3% to 585.44 million USD in 2022, reported the Thai Ministryof Commerce’s Department of International Trade on February 21.

The trend isexpected to continue this year.

The top 10 Thaiexports to Russia were vehicles, tyres, machinery and mechanical parts, cannedand processed fruits, machinery and mechanical components, refined oil, cannedseafood, processed rubber, rice, and food seasoning.

Cars, equipment, andcomponents, which are high-value products and have always been Thailand's No 1export product in the Russian market, account for 30% of all Thai exports toRussia, said Phusit Ratanakul Sereroengrit, Director General of the department.

However, the value of Thai auto exports to Russia plummetedby 74.01% from 10.2 billion THB (about 295 million USD) in 2021 to 2.6 billion THB in 2022.

Exports of automobile equipment andaccessories are expected to rebound in 2023, particularly auto parts, which arein high demand in Russia.

However, the value of Thai exports to Russia will continue to fluctuategreatly due to the Russia-Ukraine conflict, according to Phusit./.

VNA
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