March exports set new high as global recovery boosts sentiment

March exports set new high as global recovery boosts sentiment

Thai-made Deestone tyres seen at a government-sponsored trade promotion fair at Impact Muang Thong Thani in December last year. Rubber products were the biggest growth area of exports in March. (Bangkok Post file photo)
Thai-made Deestone tyres seen at a government-sponsored trade promotion fair at Impact Muang Thong Thani in December last year. Rubber products were the biggest growth area of exports in March. (Bangkok Post file photo)

Exports in March rose 8.47% year-on-year, hitting a monthly record high in dollar terms as economic stimulus in the United States and vaccine rollouts bolstered hopes for global recovery, the Commerce Ministery said on Friday.

The ministry said exports in March totalled US$24.22 billion,up 8.47% year-on-year. The figures were a recond high for Thai shipments in dollar terms, it said.

Exports also increased, up 19.8% from February.

Rubber products championed exports, leaping 109% over the same period last year and rising for six consecutive months. Other key drivers were cars, auto parts, plastic pellets, agricultural products and food, which continued their upward trend.

Imports in March were worth $23.5 billion, a 14.12% increase year-on-year, and up 16.33% from the previous month, the ministry said.

The ministry pointed to stimulus measures injected by the US administration to revive its economy and more vaccine distributions in countries around the world as key factors for the global economy to grow.

The International Monetary Fund had revised its projection for world economic growth, up one percentage point to 6%.

The ministry said Thailand's main trading partners ordered more Thai products last month, with the exception of five Asean countries - Brunei, Indonesia, Malaysia, Singapore and the Philippines - whose purchases fell.

Do you like the content of this article?
COMMENT (34)

BioNTech to deliver 1.8bn doses this year

FRANKFURT: BioNTech said on Monday that its order backlog together with partner Pfizer for delivery of Covid-19 vaccines this year had grown to 1.8 billion doses, underscoring its role as a major global supplier of immunisation shots.

19:52

Malaysia declares nationwide lockdown

KUALA LUMPUR: Malaysia on Monday imposed a new nationwide lockdown, as the country grapples with a surge in coronavirus cases and highly infectious variants that the government said are testing its health system.

18:59

French court dismisses complaint over Agent Orange use in Vietnam War

A French court on Monday dismissed a case by an elderly French-Vietnamese woman against several agrochemical companies, including Monsanto and Dow Chemical, over the use by the US military of Agent Orange during the Vietnam War.

17:56