Thailand is a member and founding nation of the Association of Southeast Asian Nations (ASEAN), as well as a member of the Asia-Pacific Economic Cooperation (APEC), the Asia-Europe Meeting (ASEM), and the World Trade Organization (WTO).
In 2023, Thailand's total exports amounted to approximately $284.5618 billion, a 1% decrease compared to the previous year, while imports amounted to approximately $289.7543 billion, a 3.8% decrease from the previous year.
Thailand's exports in December 2023 reached $22.7916 billion (approximately 795.824 billion Thai baht), a 4.7% increase year-on-year, marking the fifth consecutive month of growth. Excluding petroleum, gold, and military-related products, the growth was 2.1%. Meanwhile, imports in December amounted to $21.8188 billion, a 3.1% decrease year-on-year, resulting in a trade surplus of $0.9728 billion. Despite fluctuations in the global economy, Thailand's exports are expected to continue expanding, similar to many other Asian countries.
In 2023, Thailand's industrial product exports shrank by 1%, but in December, exports increased by 5%, marking three consecutive months of growth. Important products such as automobiles, equipment, and parts resumed expansion, growing by 4.3% following the previous month's contraction, with expansion seen in markets such as Australia, the Philippines, Japan, Saudi Arabia, and the United States. Rubber product exports grew by 3.9%, marking three consecutive months of growth, with growth observed in markets such as the United States, South Korea, India, Brazil, and Russia. Exports of steel and its products increased by 25.3%, marking four consecutive months of growth, with growth observed in markets such as the United States, Singapore, Malaysia, Australia, and Myanmar. Meanwhile, exports of important products such as chemicals decreased by 6.5%, marking 20 consecutive months of decline, with contractions observed in markets such as China, Japan, Indonesia, Cambodia, and Laos, but expansion seen in markets such as India, Vietnam, Malaysia, Taiwan (China), and the United States.
Thailand has set an export target for 2024 to grow by 1-2%, reaching approximately $280-290 billion.
Blooming Trade Data primarily consists of Thailand Customs Statistics, including HS Code, product name, trading partner countries, region, import and export volume, and import and export amount (in Thai baht & US dollars).
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