Illustrative image (Photo: The Nation) Bangkok (VNA) – 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.
The trend is expected to continue this year.
The top 10 Thai exports to Russia were vehicles, tyres, machinery and mechanical parts, canned and processed fruits, machinery and mechanical components, refined oil, canned seafood, processed rubber, rice, and food seasoning.
Cars, equipment, and components, which are high-value products and have always been Thailand's No 1 export product in the Russian market, account for 30% of all Thai exports to Russia, said Phusit Ratanakul Sereroengrit, Director General of the department.
However, the value of Thai auto exports to Russia plummeted by 74.01% from 10.2 billion THB (about 295 million USD) in 2021 to 2.6 billion THB in 2022.
Exports of automobile equipment and accessories are expected to rebound in 2023, particularly auto parts, which are in high demand in Russia.
However, the value of Thai exports to Russia will continue to fluctuate greatly due to the Russia-Ukraine conflict, according to Phusit./.
