Thailand's exports jump 10 pct, highest in 19 months

Xinhua, February 24, 2024

Thailand's exports expanded for the sixth straight month in January, thanks to a recovery in the electronics industry and rising agricultural shipments, official data showed on Friday.

Exports, a key driver of the Southeast Asian country's economic growth, jumped 10 percent last month from a year earlier to 22.64 billion U.S. dollars, the strongest pace in 19 months, according to data released by the Ministry of Commerce.

Thailand's exports to primary markets expanded 10.5 percent year on year in January, with growth in shipments to the United States, China, Japan, and the European Union.

A breakdown of the data revealed that exports of agricultural products increased 14 percent from a year earlier last month, owing to a 45.9 percent growth in rice shipment value, while agro-industrial goods expanded 3.8 percent.

Industrial product shipments rose 10.3 percent year on year, due to a 32.2 percent rise in computer, equipment and parts exports.

The data also indicated that Thailand's imports rose 2.6 percent from a year earlier to 25.40 billion dollars in January, resulting in a trade deficit of 2.75 billion dollars.

The ministry maintains its export target of 1 percent to 2 percent expansion this year, driven by global economic recovery, easing global inflation, demand from several countries to ensure their food security and economic cooperation in robust regions.