Thai exports welcomed 2024, the year of the dragon, with signs of recovery.
Thai exports in January 2024 reached a 19-month high, with a 10% increase in value reaching USD 22,649.9 million. Gold exports surged by 194.2%, contributing to the growth. Exports to all key destinations also improved. Trade balance reverted to a deficit due to increased imports for production and investments. SCB EIC predicts continued expansion in 2024.
Seizing the opportunities for Thai industry amid more severe decoupling
Growing geopolitical tensions are accelerating economic decoupling, leading to shifts in international trade patterns. Thailand, with a neutral stance, is well-positioned to benefit. However, different sectors face varying risks and opportunities, requiring tailored export promotion policies and proactive business adjustments to navigate the changing landscape effectively.
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