October exports jump 17 per cent year-on-year

Thailand’s exports climbed 17.4 per cent year-on-year in October, the Commerce Ministry said Monday, with a full-year target of 16 per cent growth backed by recovery in the global economy.

The exports value in October was USD 22.7 billion, minister Jurin Laksanawisit told a briefing.

“15 to 16 per cent growth from 2021 is possible,” said Jurin, “that is four times the objective we set at the beginning of the year.” The minister earlier expected only 4-per-cent growth.

Categories that saw great expansion in October were agricultural products such as fresh longan, cassava, rubber, and mango, as well as sugar.

Jurin revealed that Thailand recorded solid export growth in trade partners such as Russia, South Asian countries, African countries, Middle East countries, and South Korea. 

For the first 10 months of 2021, exports grew 15.7 per cent year-on-year, amounting to USD 222 billion. 

The export industry is Thailand’s only active economic engine, as the reopening in November is unlikely to contribute much to full-year figures.

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