Thailand's agricultural trade landscape in 2023 was recently unveiled by Mr. Chantanon Wannakejohn, Secretary-General of the Office of Agricultural Economics (OAE) at the Ministry of Agriculture and Cooperatives. Despite a slight dip in total trade value to 2.372 trillion baht (65.2 billion USD) compared to 2022, Thailand maintained a trade surplus of 951 billion baht.
Analyzing specifically the countries under the Free Trade Agreement (FTA), including China, Japan, South Korea, Australia, New Zealand, Peru, Chile, India, and Hong Kong (excluding ASEAN countries), Thailand demonstrated a steady growth trajectory. Agricultural trade with these nine nations surged by 3.25 percent to 1.01 trillion baht (27.7 billion USD) in 2023, resulting in a trade surplus of 529 billion baht (14.5 billion USD).
Key export destinations for Thailand's agricultural products include China, Japan, South Korea, India, and Australia. The top five agricultural exports comprised durian (139 billion baht), processed chicken meat (53.2 billion baht), natural rubber (49.1 billion baht), cassava (39.9 billion baht), and frozen chicken meat and edible offal (36.1 billion baht).
China remains the primary market for Thailand, with agricultural exports valued at over 449 billion baht, representing a 10.60 percent increase. Major exports to China include durian (137 billion baht), cassava crisps or pellets (39.4 billion baht), and natural rubber (35 billion baht).
Other FTA partners witnessing growth in Thailand's agricultural exports include New Zealand (7.39 billion baht, up 11.18 percent), Chile (2.42 billion baht, up 11.75 percent), and Peru (1.79 billion baht, up 15.98 percent).
Conversely, Thailand experienced declines in agricultural exports to Japan (down 5.31 percent), South Korea (down 8.47 percent), and India (down 22.49 percent). Major exports to these countries include crude palm oil, natural rubber, and soybean oil.
Mr. Wannakejohn emphasized the need for Thailand to enhance the quality and standards of its agricultural products to remain competitive in the global market, especially in terms of environmentally friendly production.
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