Thailand’s exports rose for the fifth consecutive month in December

The Ministry aims for a 1.99% growth in exports for the year, with rice export volumes showing significant increases in both December and the whole of 2023.

January 27, 2024

• Thailand’s customs-based exports increased by 4.7% in December 2023, marking the fifth consecutive month of growth.
• Despite a 3.1% year-on-year decrease in imports, Thailand achieved a trade surplus of $0.97 billion in December.
• The Ministry aims for a 1.99% growth in exports for the year, with rice export volumes showing significant increases in both December and the whole of 2023.

However, imports fell by 3.1% year-on-year, resulting in a trade surplus of $0.97 billion. Shipments to the United States saw a slight increase, while those to Japan decreased and exports to China rose. For the full year of 2023, imports dropped by 3.8% and exports by 1%, leading to a trade deficit of $5.2 billion. The ministry has set a target for exports to grow by 1.99% in the current year.

Additionally, rice export volumes saw an increase of 4.1% in December and rose by 13.7% for the entire year of 2023, reaching 8.76 million metric tonnes.

Source: Thailand Business News