Thailand’s exports increased 24.2 percent to US$24,930 million in December, with full-2021 growth above expectations at 17.1 percent to US$271 billion, the Commerce Ministry reported on Friday.
Exports of agricultural items grew by 21.1 percent in December, as did those from agro-based industries, which rose by 24.1 percent, according to Commerce Minister Jurin Laksanawisit. Meanwhile, exports of industrial goods including steel, air conditioners, and computers climbed by 24 percent during the same month.
Meanwhile, imports increased 33.4 percent to US$25,284.5 million in December, and 29.8 percent to US$268 billion in total for 2021, resulting in a trade deficit of US$354 million in December but a surplus of US$3.57 billion in total for 2021.
In December, exports to Australia rose 54.4 percent from a year earlier, while those to Russia and CIS countries rose 45.8%. Shipping to the United States increased 36.5 percent, whereas those to Southeast Asian countries increased 35%.
The Commerce Minister said that the recovery of Thailand’s trading partners’ economies, the expansion of the global manufacturing sector, the depreciation of Thai baht at a level favorable to exports, and the rise in crude oil prices were all factors that contributed to Thailand’s export growth last year.
Exports are projected to rise by 3-4 percent in 2022, as strong global demand is expected to continue. However, the spread of the omicron coronavirus strain, rising inflation in other countries, and supply chain disruption continue to pose threats.
