Thailand's exports beat expectations by growing 16.2 percent in February, driven by higher international demand on the back of global economic recovery and proactive trade promotions.
Thailand's exports beat expectations by growing 16.2 percent in February. (Photo: bangkokpost.com)
Bangkok (VNA) – Thailand's exports beat expectations by growing 16.2 percent in February, driven by higher international demand on the back of global economic recovery and proactive trade promotions.
Local media cited the Thai Commerce Ministry's report showing that customs-cleared exports fetched 23.48 billion USD in February, with imports rising by 16.8 percent to 23.35 billion USD, resulting in a trade surplus of 123.3 million USD.
For the first two months of the year, exports rose by 12.2 percent to 44.74 billion USD, with imports surging 18.7 percent to 47.14 billion USD, resulting in a trade deficit of 2.4 billion USD.
Commerce Minister Jurin Laksanawisit said impact from the Russia-Ukraine conflict on Thailand's international trade is likely to be seen clearly in March and April, which deserves close monitoring.
He said that the ministry has still maintained the export growth target at 3-4 percent this year, with key risk factors including rising oil prices from the conflict between Russia and Ukraine.
In a related development, Jurin said the ministry has called a meeting of the joint public-private committee to boost exports, notably for rice, which is now in high demand.
The ministry believes Thai rice exports may exceed the 7-million-tonne target set by the ministry for 2022, partly driven by new markets such as Saudi Arabia.
Thai rice shipments reached 1.5 million tonnes in the first two months of this year, compared with 900,000 tonnes in the same period of 2021.
According to Jurin, the Commerce Ministry also aims to sign 11 deals to form deeper partnerships through "mini-free trade agreements" (mini-FTAs) this year./.
Vietnamese Ambassador to Thailand Phan Chi Thanh had a meeting on March 16 with Thai Minister of Construction Saksayam Chidchob who affirmed that Thailand is interested in strengthening transport cooperation with Vietnam.
The Thai cabinet on March 22 adopted a 10-point plan to ease the increasing living cost burden on locals due to impacts of the rising fuel prices arising from the Russia-Ukraine conflict.
Thailand's rice exports are expected to exceed 8 million tonnes this year, driven by the weakness of the baht and rising demand in the global market, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association (TREA).
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
Thailand's exports beat expectations by growing 16.2 percent in February. (Photo: bangkokpost.com) 
