Bangkok: First quarter export figures grew by 15.2 percent. Commerce reveals March 2015 export figures grew by 17.8 percent, the first time in Thai history, with exports exceeding 29 billion US dollars, with the first quarter growing by 15.2 percent, accelerating the conclusion of trade negotiation plans with the United States, awaiting the results of negotiations with several countries.
According to Thai News Agency, Mr. Pichai Naripthaphan, Minister of Commerce, announced that exports in March expanded by 17.8 percent, reaching a value of 29,548 million US dollars or 988,362 million baht. This is the first time in Thai history that exports have surpassed 29 billion US dollars. The positive trend is reflected in the first quarter of 2025, where exports expanded by 15.2 percent, amounting to 81,532 million US dollars or 2.75 trillion baht. Despite global challenges, Thailand maintained a trade surplus of 1,081 million US dollars during the first three months, underscoring exports as a significant engine for the Thai economy.
Mr. Pichai highlighted ongoing discussions with the United States Trade Representative (USTR) to advance trade negotiations. The Thai government is keen to see tangible outcomes from negotiations with several countries. Challenges remain, particularly with nations like Vietnam, which still need to address several issues and have not secured import duty reductions. US investments, such as those by the Seagate Group, emphasize the urgency for Thailand to finalize negotiations with the United States promptly. To capitalize on this momentum, the Ministry of Commerce plans to convene with the private sector to strategize leveraging trade opportunities with the United States, focusing on issues such as false origin claims and the use of Thailand as a transit point for exports. The Department of Foreign Trade is set to regulate and address concerns related to nominee problems and counterfeit product exports.
Mr. Poonpong Naiyana Phaphon, Director of the Office of Trade Policy and Strategy Management, noted the continued expansion of exports into the second quarter of 2025. The annual export growth target remains at 3.5 percent. However, certain products face challenges; for instance, solar cell components exported to the United States are subject to a 67.66 percent import tax, with tariffs for assembled solar cells reaching 98 percent. Meanwhile, jasmine rice exports have seen growth in the first four months of the year. In contrast, white rice exports have suffered due to increased global production, resulting in a negative trend for five consecutive months, despite the continued positive performance of jasmine rice.