BANGKOK,(NNT) – Thailand has achieved a 1.05-billion-baht trade surplus in the CLMV market, after one year since the advent of the ASEAN Economic Community (AEC), according to the University of the Thai Chamber of Commerce.
Director of the University’s Center for International Trade Studies Aat Pisanwanich announced the center’s one-year performance report of Thai agricultural exports, following the formal establishment of the AEC.
Thai agricultural exports to the ASEAN region has increased to approximately 121.7 billion baht from 108.9 billion baht the previous year. Processed meat, processed seafood, and corn saw the most growth, while rice and rubber declined significantly.
Thailand achieved a trade surplus of 1.05 billion baht in the CLMV market, and 7.416 billion baht for the entire AEC market. CLMVT stands for Cambodia, Laos, Myanmar, Vietnam, and Thailand, representing half of ASEAN.
The center’s director said Thailand is likely to lose some market share this year due to the competitiveness among the CLMV and other ASEAN countries, which have cheaper manufacturing costs. Rubber from Vietnam and Indonesia, and rice from Vietnam will likely remain competitive with Thai agricultural exports. However, the center has estimated that the market share loss will be no greater than 10 percent.
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