Farm products push Thailand’s export growth to 12.7%

BANGKOK (NNT) - Thailand’s export sector has sustained significant growth this year. The Ministry of Commerce said farm products have been the best performer, helping push the growth to 12.7% in the first half of 2022.

The export sector showed growth for 16 consecutive months in June. The export revenue for the entire first half of 2022 was recorded at 4.95 trillion baht, a 12.7% increase year-on-year.

Minister of Commerce Jurin Laksanawisit said the agricultural and agro-industrial sector saw the highest growth at 9.3% in the first 6 months, logging in some 476 billion baht.

Farm products showing the highest growth include rice, fruits, rubber, and agro-industrial items such as white sugar.

Thailand’s exports to South Asia saw the highest market growth at 49.5%, followed by Southeast Asia at 35.6%, and Canada at 26.2%.

The minister said these growth figures were achieved through the Ministry of Commerce’s campaigns that help Thai exporters leverage the existing Free Trade Agreement benefits.

Thailand’s export activities at land borders showed a 10.4% increase in June, along with 122 billion baht in revenue. The country’s cross-border exports in the first half of this year recorded a 1.2% increase and gross revenue of 568 billion baht.

The country’s border trade with its neighbors namely Malaysia, Myanmar, Laos, and Cambodia recorded a 25.8% surplus, while most of through-border exports were sent to China, Singapore, and Vietnam.