BANGKOK SEATIZENS – Thailand has become the largest exporter of agricultural products in Southeast Asia and the eighth-largest globally, thanks to its free trade agreements (FTAs). Director-General Chotima Iemsawasdikul credits these agreements for the success, despite increasing foreign competition and global economic uncertainties.
ACCORDING TO THAIGER – Thailand’s agricultural exports reached US$19.8 billion in the first eight months of 2024, an 8% increase year-on-year. Exports to FTA partners totaled US$13.7 billion, 69% of the total.
China is the top importer, taking 31% of exports, followed by ASEAN (15%), Japan (11%), and South Korea (3%). Rapid growth occurred in ASEAN (39%), India (34%), Australia (23%), Singapore (10%), South Korea (9%), and Japan (7%).
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Thailand’s Agricultural Exports Surge in August 2024
In August 2024, agricultural exports to FTA partners totaled US$1.7 billion, a 9% increase from the previous month. Major exports included fresh, chilled, and frozen fruit at US$604 million (up 21%), rice at US$562 million (up 41%), natural rubber at US$497 million (up 9%), fresh, chilled, frozen, and processed chicken at US$392 million (up 6%), and tapioca products at US$260 million (up 2%).
The department encourages Thai entrepreneurs to leverage FTA privileges to expand exports further. Thailand has 14 FTAs with 18 countries, including the Regional Comprehensive Economic Partnership, which began last year.
These agreements have waived import tariffs on most Thai products, boosting exports of natural rubber, tapioca products, processed chicken, and fresh, chilled, and frozen fruit. This strategic use of FTAs has solidified Thailand’s global market position, driving significant growth in agricultural exports.
(BEAM CHAYAPON)
