Thailand’s exports show sign of recovery. (Photo: bangkokpost.com) Bangkok (VNA) – Automobiles and auto parts, electronics and agricultural products will drive Thai exports in the final quarter of this year, though shipments overall will remain sluggish for 2023, according to the Federation of Thai Industries (FTI).
Kriengkrai Thiennukul, chairman of the FTI, acknowledged demand for these products in the global market is expected to keep increasing, supporting Thai exports that slowed for many months this year.
The country’s Commerce Ministry reported that after several months of declines, Thailand's exports increased for a second straight month in September, gaining 2.1% year-on-year to 25.5 billion USD, while imports fell by 8.3% to 23.4 billion USD.
The uptick in September exports was driven by agricultural and agro-industrial products, with the export of durian and mangosteen to China posting significant growth, as did rice exports to South Africa and Indonesia.
According to the ministry, industrial exports continue to expand, aligned with trends such as solar cells and mobile phones. Meanwhile, automotive products make up 10% of total Thai exports.
However, the conflict in the Middle East has car manufacturers who export to the region concerned. This area is a key market for the Thai automotive industry.
FTI’s Automotive Industry Club revealed that pickups are popular in the Middle East and the export of this could decline if the dispute cannot be settled through negotiations.
The FTI Chairman urged the government to launch new measures to improve the Thai economy in the first half of next year, especially during the Songkran festival.
Besides, he said the government also needs to better manage the energy price structure in the long term by reducing the power tariff to 2.3-2.7 THB (0.064- 0.076 USD) per kilowatt-hour (unit), down from 3.99 THB per unit at present./.
