The Permanent Secretary of the Ministry of Commerce prepares to bring a plan to penetrate all markets around the world to present to the new government, no matter which party takes over the Ministry of Commerce. After many factors affecting Thai exports that have been negative for 7 consecutive months, the latest exports in April 2023 have an export value of more than 21,723 million US dollars, a negative of 7.6%. It is expected to remain negative for another 2 months and will start to become positive. in the month This July onwards Reiterated the plan to talk to the private sector, all parties agree that Thai exports have a positive opportunity in the second half of the year.
Mr. Kirati Ratchano, Permanent Secretary of the Ministry of Commerce, said that Thailand's international trade in April 2023, with export value of more than 21,723 million US dollars, decreased by 7.6% for the seventh consecutive month from the high export base during the period. the same as the previous year Including each country stocking a lot of products. After the COVID situation resolved, orders were slowed down at the beginning of the year. Industrial goods contracted by 11.2%, a seventh consecutive month of contraction as well, and exports to most major markets contracted following a slowdown in demand from trading partners. Including the uncertainty of the global economy and trade.
As for the total exports in the four months of this year. (Jan.-Apr. '23) Thailand has a total export value of 92,003 million US dollars, still shrinking by 5.2%, while imports in April 2023 were worth 23,195 million US dollars, shrinking 7.3%, resulting in the month In April, Thailand had a trade deficit of 1,471 million US dollars. and imports in the first four months of this year with a total value of 96,519 million US dollars, contracting by 2.2%, resulting in an overall 4-month overall trade deficit of 4,516 million US dollars.
However, the month's exports were still better than many countries. In April 2023, Indonesia was minus 29%, Vietnam was minus 16.2%, Singapore was minus 16%, South Korea was minus 14.3% and Taiwan was minus 13.3%. in order to reserve enough for the needs can be seen from agricultural exports in April which continues to expand for the third consecutive month, gaining a high of 23.8%, especially frozen, frozen and dried fruits, expanding 142.8%, making them the highest revenue ever.
“The Ministry of Commerce has prepared an export plan in all dimensions. To prepare to present to the new government, no matter which party comes to see the Ministry of Commerce According to the plan to penetrate the global market after a meeting with the private sector at the end of last week I see that there is an opportunity for Thai products in many groups, including food and beverages, vegetables, fruits, as well as the automotive and electronics industries, there is a lot of opportunity to grow. In many countries, there is an increasing demand for these products, so it is expected that even the Thai export numbers in the next 2 months will still have some negative opportunities. But should be less and will turn positive from the third quarter to the fourth quarter with the value of exports each month exceeding US $ 24 billion. Causing the chance of export numbers this year to be positive by 1-2%, but if there is no plan to penetrate any market, the opportunity for Thai exports this year will also be negative, ”said Kirati.
However, the push plan prepared by the Ministry of Commerce In the second half of the year, a total of more than 350 activities should increase the number of exports this year by 550 million US dollars, or approximately 20,000 million baht, but the risk factor that must be monitored is the economic slowdown. Inflation remains high Causing many countries to use strict monetary policies, the financial crisis of commercial banks in the US and Europe and the problem of the US debt ceiling That creates uncertainty to the global economy.
Source: Thai News Agency