Thailand
Thai trade with FTA partners rises 14%
Thailand’s trade with free-trade agreement (FTA) partners rose by 14.2% year-on-year in the first half of the year.
Auramon Supthaweethum, director-general of the Trade Negotiations Department, said the trade value between Thailand and 17 trading partners under the 12 effective FTAs amounted to UScopy48.2 billion, with exports contributing $73.79 billion, up 13.3% year-on-year, with imports valued at $74.41 billion, up 15.2%.
The top five FTA partners that Thailand exported to for the period were Asean, China, Japan, Australia and India.
Thai shipments to Asean rose 13.6% in the first half to $32.82 billion, with key exports including vehicles and auto parts, chemicals, plastics, machinery and equipment.
Exports to China totalled copy4.93 billion, up 7.5% from the same period last year, with the main exports including plastics, rubber, chemicals, computers and electronic equipment.
Shipments to Japan soared by 17.9% to copy2.55 billion, with vehicles, equipment, processed chicken, faxes and telephones being the key exports.
Exports to Australia rose 12.3% to $5.52 billion, consisting of vehicles, equipment, air conditioners, plastics, processed and canned seafood, and rubber.
Thailand’s exports to India were worth $3.93 billion, up 29.3%, with main exports including chemicals, plastics, air conditioners, vehicles and equipment, and gemstones and jewellery.
The top five FTA partners that Thailand imported from in the first half of 2018 were China, Asean, Japan, South Korea and Australia.
Thailand’s imports from Asean totalled $22.57 billion, up 13.2%, with those from Japan up 12.3% to copy7.26 billion, South Korea, up 16.4% to $4.52 billion, and Australia worth $2.56 billion, up 34.9%.
According to Mrs Auramon, Thailand’s exports to almost all FTA partners except Peru increased in the first half of this year.
Thailand’s shipments to Peru declined by 6.5% from the same period last year, she said.
“Although the world’s economic situation is facing risks from the trade dispute between the two giant economies, and growing policies by many countries to reduce imports, trade between Thailand and 17 FTA partners continued growing in the first half of 2018, making up 59.7% of Thailand’s international trade,” Mrs Auramon said.
Thailand has 13 FTAs in place, including the Asean-Hong Kong FTA and an investment agreement scheduled to take effect in January 2019.
The country is continuing FTA talks with dialogue partners such as Pakistan, Turkey and Sri Lanka.
Negotiations with Turkey and Pakistan are set to conclude this year.
Source: https://www.bangkokpost.com/business/news/1525986/thai-trade-with-fta-partners-rises-14-