Nonthaburi, Permanent Secretary of the Ministry of Commerce reveals February 2024 exports were worth 23,384.9 million US dollars. Continuously increased by 3.6% for the 7th month, resulting in 2-month export growth of 6.7%, indicating that overall exports are likely to improve, supporting a good recovery in domestic production. But still worried about the problem of the slowing Chinese economy that may cause export sales in March 2024 not to expand, but confident that export sales for the whole year should be positive 1-2% as expected, said
Mr. Keerati Ratchano, Permanent Secretary of the Ministry of Commerce. The February 2024 export figures were valued at 23,384.9 million US dollars, an increase of 3.6%, expanding positively for the 7th consecutive month, but when calculated in baht, the value was 827,139 million baht. Imports were valued at 23,938.9 million dollars. United States increased 3.2%, accounting for baht worth 856,508 million baht, trade deficit worth 554 million baht. Calculated in baht worth
29,369 million baht. For 2 months of 2024 (Jan.-Feb.), exports were valued at 46,034.7 million US dollars, an increase of 6.7%, calculated in baht worth 1,611,719 million baht, imports valued at 49,346.6 million baht. The US dollar increased 2.9% to a value of 1,747,195 million baht, resulting in a trade deficit of 3,311.9 million US dollars. Represented in baht worth 135,476 million baht
. It was an increase of 7.5% in agricultural products, expanding continuously for 2 months, but agricultural industrial products decreased by 9.2%, contracting in the past 6 months, with important products that expanded such as rice, rubber, canned and processed seafood. pet food Canned and processed fruits food seasoning Milk and milk products, coffee, and shrinking products such as cassava products, sugar, fresh chilled, frozen and dried fruits. Fats and oils from plants and animals. In the 2 months of 2024, exports of agricultural and agro-industrial products increased 3.7%,
while industrial products increased 5.2%, exp
anding continuously for 5 months, with important products expanding such as computers. Equipment and components Gems and jewelry (excluding gold) iron, steel and products semiconductor devices Transistors and diodes Electrical transformers and components wood and wood products As for important products that contracted, such as automobiles, equipment and components, electrical circuit boards, air conditioners and components, chemicals, for the 2 months of 2024, exports of industrial products increased by 7.7%.
As for export markets, primary markets increased by 2.7%, expanding in the US market by 15.5%, the European Union (27) increased by 3.3%, and CLMV increased by 4.5%, but China decreased by 5.7%, Japan decreased by 5.8%, and ASEAN (5) decreased by 1.2%. Secondary markets increased. 3.8%, expanding in the Australian market by 26.4%, Latin America by 7.9%, Russia and the CIS group by 46.4%, but South Asia decreased by 2.6%, the Middle East decreased by 9.9%, Africa decreased by 18.2%, and the United Kingdo
m decreased by 7.3%. Other markets increased by 94.2%. For example, Switzerland increased 198.2%.
However, the export trend from now on The Ministry of Commerce expects will continue to expand from the recovery of the manufacturing sector and the economies of key trading partners grew strongly. Agricultural products received positive factors from increased demand. Agro-industrial products Received good results from expanding tourism. Industrial products such as electronics grow in line with the digital economy. The Ministry of Commerce continues to cooperate with the private sector to promote marketing. And SMEs’ products are being pushed abroad, but we must keep an eye on the growth of the Chinese economy, which is still at a low level. and there is uncertainty that may affect exports But you must keep an eye on exports in March 2024, where the base from last year was very high. Exports reached 28,004.2 million US dollars. that will affect exports But we still believe that exports will continue to grow and
throughout the year we will work hard to keep exports in line with the target set at 1-2%.
Mr. Chaichan Charoensuk, Chairman of the Freight Forwarders Council The Ship Authority of Thailand (NST) said that now sea transport Starting to return to normal. But the price is still 1-2 times higher than normal if it can be managed. It will not affect exports. As for March 2024 figures, it is expected that exports will be approximately 25,500-26,500 million US dollars This is lower than the same month last year when exports were 28 billion US dollars. As a result, in the first quarter of 2024, total exports will be 71,500-72,500 million USD increased by 1-2%. In the second quarter, it is expected that exports will continue to expand well. Estimated to be at 71.6 billion US dollars, etc.
Source: Thai News Agency
