Press Release on Thailand's International Trade for July 2021 by the Trade Policy and Strategy Office, Ministry of Commerce on Monday, August 23, 2021, at 9:00 AM, in the Burachachaiyakorn Room, 4th Floor, Office of the Permanent Secretary, Ministry of Commerce

Overview of Thai Exports (in US Dollars)
In July 2021, exports amounted to 22,650.83 million US dollars, continuing to grow for the fifth consecutive month at a rate of 20.27% YoY. This figure is higher than the average for July over the past five years (19,265.75 million US dollars), resulting from the implementation of the Ministry of Commerce's export promotion plan and the recovery of the global economy. When excluding oil-related products, gold, and strategic goods, growth was +25.38% YoY, reflecting growth from the real sector of the economy.

Export Growth Rate by Region in Asia
In July 2021, Thailand's exports continued to grow in line with the Asian region.

 

Top 10 Export Products in July 2021

Contribution to Growth by Sector
Key products driving exports include automobiles, fresh fruits, plastic pellets, refined oil, and chemicals. Meanwhile, jewelry, seafood, canned goods, and processed livestock products, sugar, and rice showed a slowdown.

Export by Product
Agricultural and agricultural industrial products showed significant growth, expanding by 24.3% for the eighth consecutive month (with agricultural products growing by 46.4% and agricultural industrial products growing by 0.4%). Industrial products grew by 18.0%, and when excluding gold, growth was at 28.2%. Additionally, minerals and fuels expanded by 62.6%.

Export of Agricultural and Agricultural Industrial Products (Growth)


Export of Agricultural and Agricultural Industrial Products (Decline)

Export of Key Industrial Products (Growth)


Export of Key Industrial Products (Decline)

Export by Market

Contribution to Growth by Country
In July 2021, exports grew by 20.3%, particularly to the United States, Japan, India, and Indonesia, which significantly contributed to export growth. Markets that negatively impacted exports included Switzerland, Australia, Ireland, Saudi Arabia, and Turkey.

Thailand's Imports in July 2021
Imports continued to grow due to the increase in production for exports, with raw materials and semi-finished goods, as well as fuels, showing good growth.

Key Sources of Imports for Thailand in July 2021
Key sources of imports included China, Japan, the United States, Malaysia, and the United Arab Emirates.

  • China, the top source of imports, grew by 37.8% due to imports of electrical machinery and components (21.5%), machinery and parts (21.8%), computers (35.4%), household electrical appliances (6.8%), and chemicals (76.4%).
  • Japan, the second-largest source of imports, grew by 73.8% due to imports of steel (154.4%), machinery and parts (51.1%), electrical machinery and components (43.2%), automotive parts and components (182.2%), and chemicals (151.9%).
  • The United States grew by 32.0% due to the increase in imports of chemicals (31.9%), machinery and parts (86.4%), electrical circuit boards (2.2%), electrical machinery and components (20.3%), and automotive parts and components (144.3%).
  • Malaysia grew by 34.6% due to imports of crude oil (1,046.0%), chemicals (81.0%), and electrical machinery and components (4.8%).
  • The United Arab Emirates grew by 170.9% due to imports of crude oil (65.3%), metal products (358,933.3%), and refined oil (532.8%).

 

Factors Supporting Thailand's Exports
1. Implementation of the export promotion plan by the Ministry of Commerce during July - August 2021.

  • Malaysia signaled an increase in rice imports from Thailand to support the second half of 2021.
  • Participation in the Seoul Food 2021 trade fair.
  • Organizing the Thai Fair to promote Thai products in Japanese department stores.
  • Promoting Thai rice in Egypt.
  • Organizing promotional activities for Thai SELECT restaurants to boost sales.
  • Developing a dashboard for durian products to aid in production and marketing planning.
  • Creating a plan to accelerate the export of products that meet global trends.
  • Implementing 7 measures to facilitate exports and imports during COVID-19.
  • Resolving transportation issues for mangosteen to the Chinese market.
  • Addressing the dumping of copper sheet and alloy copper products in India.
  • Resolving the shortage of containers to restore balance.
  • Matching financial institutions with SMEs in exports to assist exporting SMEs.

2. Economic Factors

  • Growth of economies in major export markets such as the United States, EU, and China.
  • The Thai Baht is expected to weaken.
  • Crude oil prices remain higher than the previous year.


Documents related to the press release can be downloaded at www.tpso.moc.go.th or by scanning the QR Code.