Thai Export Growth Target for 2018 Remains at 8%, Expected to Expand by 5% in 2019
The Thai National Shippers' Council (TNSC) reported that the export value for October reached $21.758 billion, growing by 8.7%. This brings the total export value for the first ten months to $211.488 billion, an increase of 8.2%. The council is confident that the target of 8% growth for 2018 will be achieved, and they anticipate a continued growth of 5% in 2019.
On December 4, 2018, Ms. Kanphak Tantipipatpong, President of the Thai National Shippers' Council (TNSC), revealed the overall export situation for Thailand in October 2018, stating that the export value was $21.758 billion, reflecting an 8.7% increase compared to the same period last year. The export value in Thai baht was 720.678 billion, growing by 6.8%. Meanwhile, imports amounted to $22.038 billion, an increase of 11.2%, with the import value in Thai baht also at 720.678 billion, growing by 9.4%. This resulted in a trade surplus of $2.559 billion and a balance of 9.431 billion baht for the January-October period.
For the first ten months (January-October), the total export value was $211.488 billion, growing by 8.2%, which translates to an export value of 6.759 trillion baht, a growth of 1.51%. Imports totaled $208.929 billion, an increase of 14.8%, or 6.769 trillion baht, growing by 7.8%. Despite the risks posed by trade wars and the expansion of markets in partner countries, the export situation has shown good growth. The TNSC predicts that Thai exports will grow by 5% in 2019.
In October, the export categories that performed well included agricultural and agro-industrial products, which grew by 12.2%. Key products such as granulated sugar, cassava products, frozen and processed chicken, as well as fresh, frozen, canned, and processed fruits and vegetables continued to thrive in the market. However, rubber experienced a decline in both price and volume. The industrial goods sector grew by 6.8%, marking a return to growth, with notable increases in oil, gold, gemstones, and jewelry. Conversely, categories that saw a decline included automobiles and computer components.
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