January Exports Surge 24%, Highest Growth in 4 Years with Nearly 100 Billion Baht Value

Nanthaphong Chiralertphong, Director of the Trade Policy and Strategy Office, revealed Thailand's January 2024 export figures of 31,573.1 million US dollars (980,744 million baht), marking 19 consecutive months of growth at 24.4%. Excluding oil, gold, and strategic goods, exports expanded by 20.9%. Imports reached 34,876.5 million US dollars, growing 29.4%, resulting in a trade deficit of 3,303.4 million US dollars. The export surge is primarily attributed to explosive growth in electronic goods, especially computers, equipment, and components, which expanded by 68.2% for 22 consecutive months in markets like the US, China, and the Netherlands, aligned with AI Data Center trends. Electronic, electrical appliance, automotive, and processed agricultural sectors also showed significant growth. Major export markets continue to expand, with key regions like the US, China, European Union, and ASEAN showing robust growth. Looking ahead, the Commerce Ministry anticipates continued growth driven by digital infrastructure and AI Data Center investments, while remaining cautious about potential risks like currency fluctuations and geopolitical conflicts.