According to the Ministry of Commerce, Thailand’s foreign trade increased by 8% in January, reaching a value of $21.25 billion.
Imports increased by 20.5% to $23,785 billion. This resulted in a trade deficit of $2.52 billion.
Factors that supported exports in January include the continuation of the main policy of promoting products in line with the leading production market, the strengthening of border trade potential, the restoration of trade relations between Thailand and Saudi Arabia, the global manufacturing sector continues to expand, and the container shortage problem is beginning to improve.
Exports in February were not affected by the situation between Russia and Ukraine. This year’s export target remains at 3-4%, since there is currently no direct impact, as exports to Russia only account for about 0.38% of Thai exports.