Thailand’s exports in May 2024 expanded by 7.2%, reaching a value of 26.219 billion US dollars, according to the Commerce Ministry’s Trade Policy and Strategy Office.
This growth has driven the year-to-date figure to 2.6%.
Agricultural and agro-industrial products saw an overall growth of 19.4%, with agricultural products expanding by 36.5% and agro-industrial products by 0.8%. Key products driving this growth include fresh, chilled, frozen, and dried fruits; para rubber; pet food; processed chicken; fats and oils from plants and animals; canned and processed fruits; food seasonings; and milk and dairy products.
Agricultural products that experienced a decline include rice, canned and processed seafood, sugar, and cassava products.
Industrial goods exports grew by 4.6%, with major contributors including computers and parts, telephones and parts, machinery and parts, copper and copper products, wood and wood products.
Industrial products that contracted include rubber products, electric circuit boards, iron and steel, semiconductors, motorcycles and parts.
While many parties are concerned about the impact of the influx of electric vehicles (EVs) on Thailand’s automotive and parts industry, the industry itself is also worried about the competition.
In this regard, the industry and relevant agencies should consider adjusting their strategies to compete with EVs and adapt to the changing global landscape. (TNA)
