MOAC: Thailand gained over 200 billion baht trade surplus in 2017

MOAC: Thailand gained over 200 billion baht trade surplus in 2017

BANGKOK, 12 March 2018 (NNT) – Thailand posted 200 billion baht in trade surplus from the export of agricultural products to ASEAN countries in 2017, with a trade surplus is also expected in 2018, says official. 

Ministry of Agriculture and Cooperatives' (MOAC) Spokesman Sorawit Thaneto disclosed that the trade value of Thai agricultural products shipped to ASEAN countries in 2017 increased to 439.13 billion baht, with 328.90 billion baht worth of exports and 110.23 billion baht imports. Thailand gained a total trade surplus of 218.68 billion baht as a result. 

According to the Office of Agricultural Economics' Secretary-General Vinaroj Supsongsuk, items with biggest export value were sugar and sugar products, beverages, fruits (longan, durian and mangosteen), natural rubber, rice and grains respectively. 

Meanwhile, most of the imported items from ASEAN countries were seafood such as tuna, surimi, and sea fish; consumable plants and vegetables such as tapioca, cabbage, black skin green beans, sweet potato, and small onions; seasonings and nutritional enhancer, including nutrition supplements; processed items from grains including dairy and sweets, and fruits and nuts such as coconuts, cashew nut, dragon fruit, dried coconut, and tamarind. 

Thailand has been posting a trade surplus since the opening of the ASEAN Free Trade Area in 2013. The value of trade surplus is, however, decreasing as Thailand is importing more agricultural products from ASEAN countries, but the export of Thai produces is still depending on the market fluctuations. 

The MOAC is working to promote the enhancement of produces quality to exemplify the quality of Thai produces and boost the confidence among clients in the international markets.

 

-- nnt 2018-03-12