Customs-based exports in Thailand continued to rise for the fifth consecutive month in December, showing a 4.7% increase compared to the same period the previous year, according to the Commerce Ministry. This growth fell short of the Reuters poll forecast of 6.0% for December, but still followed a 4.9% rise in November.
Meanwhile, imports declined by 3.1% on a year-on-year basis in December, resulting in a trade surplus of $0.97 billion.
Exports to the United States grew slightly by 0.3% in December, while shipments to Japan dropped by 3.7%. However, Thailand saw a 2% increase in exports to China.
For the full year of 2023, imports fell by 3.8% annually, and exports contracted by 1%, leading to a trade deficit of $5.2 billion.
The Commerce Ministry has set a target for exports to grow by 1.99% in 2024.
In the specific case of rice, exports volumes increased by 4.1% in December compared to the previous year, and for the entire year of 2023, it experienced a substantial growth of 13.7% to reach 8.76 million metric tonnes.
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