Exports surged by 14% year-on-year to $26.7 billion in February, showcasing eight months of continuous growth, as reported by the Commerce Ministry.
Commerce Minister Pichai Naripthaphan noted that imports amounted to $24.7 billion for February, reflecting a year-on-year increase of 4%, which resulted in a trade surplus of $1.99 billion.
In the first two months of the year, exports experienced a growth of 13.8%, and the outlook for March remains optimistic, spurred by increasing investments and the importation of raw materials for export production.
According to Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office, the growth in exports for February was primarily driven by the agricultural and agro-industrial sectors, which grew by 3.9% year-on-year.
Significant increases were recorded in numerous products, including rubber exports rising by 35.7%, wheat products and prepared foods by 27.7%, sugar by 25.8%, canned and processed seafood by 22.5%, pet food by 14.4%, and fresh, chilled, frozen, and processed chicken by 9.3%.
Conversely, some products, such as rice, cassava products, fresh and dried fruits, as well as meat and processed meat products, saw declines.
Industrial exports also saw growth of 17.2% year-on-year in February, driven by sectors including automobiles, equipment and auto parts; computers and accessories; gems and jewelry (excluding gold); rubber products; air conditioning units and components; machinery; and electronic circuits.
Mr. Poonpong highlighted that exports grew in major markets, especially in China, where a recovery in manufacturing has boosted demand.
South Asia showed robust demand for Thai gems and jewelry, while US imports rose significantly in anticipation of potential tariff changes.
He forecasts an export growth of at least 10% in the first quarter, supported by strong manufacturing confidence, rising electronics demand, and easing geopolitical tensions.
Mr. Poonpong also mentioned that agricultural exports, particularly fruits, are expected to see an increase in the second quarter. However, he cautioned that changes in US trade policy should be monitored starting April 2.
