Economy

Thai exports showed signs of recovery in December 2023, with a 4.7%YOY increase at USD 22,791.6 million. However, factors like gold exports and special circumstances played roles. SCB EIC predicts a 3.7% growth trend in 2024 but warns of risks from global supply chain disruptions.

Thai exports in June 2024 contracted by -0.3% compared to the previous year due to a decrease in fruits exports to China. Exports of agro-industrial and agricultural products also declined, while exports to key partners, impacted by gold exports, showed mixed results. The trade balance recorded a slight surplus in June, with expectations of export improvement in July and the second half of the year. SCB EIC anticipates a 2.6% expansion in Thai exports for 2024 and similar growth expected in 2025.

Thai exports in June 2024 declined by -0.3%YOY, with a notable decrease in fruit exports to China due to drought conditions. Agro-industrial and agricultural products saw contractions, while key partners, such as Hong Kong and Japan, also experienced declines. SCB EIC projects a 2.6% expansion in Thai exports for 2024.