THURSDAY, March 28, 2024
nationthailand

Decrease in November exports, but some products witness increased sales

Decrease in November exports, but some products witness increased sales

Thailand’s November exports witnessed a drop of 7.39 per cent compared to the same period last year, with the trade value being US$19.7 billion (Bt593.5 billion) while exports in the first 11 months of this year totalled $227.09 billion. The value of imports was $218.08 billion, with a surplus balance of trade being $9 billion.
Exports still maintained a higher value compared to other countries in the region, including South Korea, Indonesia and Singapore.
One temporary factor that led to decreased exports of oil and related products came from oil refinery maintenance at the end of the year, causing a reduction by 27 per cent in exports of oil, plastic beads and chemical products. Oil refineries under maintenance will resume production at the beginning of 2020.
Oil-related products saw a decrease in exports to China, Malaysia, Vietnam, Cambodia and Indonesia, but expanded in Pakistan. 
The impact of the US-China trade war on Thailand’s exports has stabilised and this can be seen from the fact that the kingdom exports many products to the US and Chinese markets.
The value of exports of agricultural products declined by 3.6 per cent compared to the same period last year. Major agricultural products that have seen higher sales are sugar, which grew 105.3 per cent, expanding in markets such as Indonesia, Sudan, China, Cambodia and Vietnam.
Frozen, processed and fresh chicken grew by 10.4 per cent, with increased sales to Japan, the United Kingdom, China, South Korea and Malaysia. Meanwhile, exports of fresh, chilled, frozen, canned and processed fruits and vegetables grew by 7 per cent in the Chinese, US, Hong Kong, Indonesian and Australian markets.
Beverages witnessed 3.8 per cent growth, with increased sales to Cambodia, Myanmar, China, Indonesia and Japan.
However, cassava products decreased by 37.3 per cent, shrinking in the Chinese, Japanese, Indonesian, Taiwan and US markets but expanding well in Vietnam and the Netherlands.
Rice, too, went down by 31.4 per cent, with reduced sales to China, South Africa, Hong Kong, Japan and Singapore, but exports to the US, Cameroon and Angola increased.
Rubber dropped by 18.4 per cent, seeing decreased exports to China, Japan, South Korea, India and Brazil, but expanding in Malaysia, the US and Turkey.
Frozen shrimp and processed shrimp also dropped – by 9.1 per cent – witnessing reduced exports to the US, Japan, Australia, Canada and South Korea, but saw increased sales to China, Malaysia and Myanmar.
Additionally, the export value of industrial products dropped by 6.4 per cent. Major products which performed well were furniture and related parts, which grew 26.4 per cent, expanding in the Chinese, US, Malaysian, Vietnamese and Philippines markets.
Cars, equipment and parts saw a reduction of 15.6 per cent, dropping in the Australian, Philippine, Japanese, Indonesian and Malaysian markets but expanding well in Vietnam, China and Saudi Arabia.
Gold decreased by 8.5 per cent, seeing reduced exports to Cambodia, Singapore, Taiwan, Bangladesh, and Italy but expanding in Switzerland, Myanmar and South Korea.
Exports to the US decreased by 2.6 per cent. Major products that saw a reduction in exports included iron and steel products and electrical circuits, while high-growth export products included semiconductors, furniture, and rubber products
The EU market (15 countries) saw a decline by 8.2 per cent. Major products that went down were automobiles and parts. 
Exports to Japan fell by 10.9 per cent. Major products that declined were telephones and accessories, plastic beads, cars and components, televisions and components, and machinery, while air conditioners witnessed high growth.
Exports to the Chinese market grew by 2.3 per cent. Automobiles and related components, fresh, frozen and dried fruit, combustion engines and sugar saw increased sales.
The Asean market of five countries went down by 11.1 per cent. Refined oil, computers, automobiles and related parts, machinery and plastic beads witnessed slowing sales, while exports of gems and jewellery increased.
The Indian market also saw a reduction of 14.1 per cent. Chemical products, televisions and components, cars and parts, and copper saw lower sales, while the high-growth products included gems and jewellery.

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