Thailand's agricultural export value fell 3% in 2016

The Commerce Ministry for Thailand has reported the first growth in export value for the country in four years with a growth of .45% to USD $215.32bn. This was good news as, when compared to last year, import value contracted by 3.94 per cent to $194.66 billion, and as a result Thailand was locked into its highest trade surplus ever at $20.65 billion.

Last month, export of agricultural products increased by 5.5 per cent however, for the whole of 2016, the export of agricultural products declined by 3 per cent. Exports of fresh, processed and canned vegetables and fruits are predicted to continue to do well this year. Thai trade accounts will continue to show a surplus this year but will narrow as headline imports rise, according to the securities house.

With Thailand’s 0.45-per-cent export growth last year, it was the eighth highest ranking in the world, the fourth in Asean, and had the second strongest growth among Asean countries. Average global trading value in the first 11 months of last year declined by 3.1 per cent.

source: nationmultimedia.com

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