Trade in Thailand

We begin our monthly summary of trends in international trade with one of the steadiest growing economies in South East Asia.

Exports

This month, exports in Thailand increased to 22 billion USD that resulted in a sharp rise of 11.4%, marking the steady growth the fifteenth month in a row.

The main reason for this rise is the economies of Thailand’s main trade partners have progressed and the three biggest export products are fruits, vehicle and computer parts. Due to the Trade War between China and the USA, many electronic manufacturers have moved to Thailand and the export of electronic products has also slightly increased. Market analysts state that the exports reached a new high this year, and expect it to continue rising.

Imports

Imports significantly rose by 16.6% this month with major growth in imports of consumer durable goods, fuel and raw materials. As a result of the increasing demand for fuel resources( the sales of cars have gone up by 9.5% this month) and construction materials, an immediate growth in imports is expected.

Group member: Hayes, Leon, Jeffery