Thailand’s Exports Rise by 13% as the Economy Recovers

Jun 2021

The Thai economy is on track to recover from the adverse effects of the Covid-19 pandemic, as illustrated by the recent announcement that the South East Asian´s exports rose to over USD 21 billion in value in April 2021, growing 13.1% year-on-year. This represents the highest rate in 36 months and is a particularly positive development for an export-oriented economy like Thailand.

The categories of exports that posed the highest growth include vehicles and automotive accessories, agricultural and goods and foods, and related work-from-home items. Importantly, Thailand´s top trading partners continue to be the United States, China, the European Union and South Asia. Exports to China, Thailand’s top market in April, jumped 21.9% from a year earlier, while those to the United States rose 9% and ones to the European Union soared 52.5%.

Private investment registered a positive trajectory, too, in particular in the segment of construction materials, buoyed by government-led infrastructure projects. A further positive development is represented by the surge of 65.8% of new car registrations surged, in line with the 9.8% increase in agricultural revenues.

(Source: Thailand Business News)