According to the Commerce Ministry’s Trade Policy and Strategy Office, Thailand’s consolidated exports in May 2024 reached 26.219 billion US dollars, marking a 7.2% rise.
To date, this has grown to 2.6%.
The growth of agricultural and agro-industrial products was a significant 19.4%, a promising sign for the industry. Key contributors to this growth were fruits, para rubber, processed chicken, plant and animal fats and oils, canned fruits, and food seasonings. This growth, along with the potential of milk and dairy products, presents a positive outlook for the industry. What is your opinion?
Rice, canned and processed seafood, sugar, and cassava products exemplified the decline in agricultural products.
Industrial goods exports increased by 4.6%, with computers and parts leading the way, telephones and other components, machinery and part sales, copper and copper products, and wood and wooden products being significant contributors.
Industrial commodities such as rubber products, electric circuit boards and components like iron and steel, semiconductors, motorcycles (including motorbikes), and parts have all been contracted out.
While many have expressed their concerns about the impact of electric vehicles (EVs) on Thailand’s automotive and parts industry, the industry itself is also concerned about potential disruptions shortly.
The industry and relevant agencies must adjust their plans to compete with EVs and keep pace with the changing global market. This is not just a suggestion, but a necessity for the industry’s future.
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