In an impressive boost to Thailand’s economic performance, exports soared by 14% year-on-year in February, as reported by the commerce ministry on Friday. This significant rise outpaced expectations, as a Reuters poll had anticipated a 9.7% increase. The latest data builds on a strong trend, with January having already seen a 13.6% growth.
Despite the overall export growth, rice exports faced challenges, registering a steep 33.1% decline compared to the same month last year. This stark contrast underscores the volatility in different sectors of Thailand’s export economy.
Looking ahead, Thailand remains optimistic about its export prospects. The commerce ministry predicts an expected growth of 10% for the first quarter, and a potential rise beyond 3% throughout 2023, signaling steady momentum in global trade participation.
