BANGKOK – Mr. Chantanon Wannakejohn, Secretary-General of the Office of Agricultural Economics (OAE) at the Ministry of Agriculture and Cooperatives, revealed the overall picture of Thailand’s agricultural trade with the world in 2023. Thailand had a total trade value of 2.372 trillion baht (65.2 billion USD), down 0.13 percent from 2022, which was 2.375 trillion baht. However, Thailand still had a trade surplus of 951 billion baht (26.1 billion USD).
Looking only at the countries that have joined the Free Trade Agreement (FTA), namely China, Japan, South Korea, Australia, New Zealand, Peru, Chile, India and Hong Kong (with the exception of the ASEAN countries), it can be seen that they continue to show steady growth. In 2023, Thailand’s total agricultural trade with these 9 countries grew by 3.25 percent or 1.01 trillion baht (27.7 billion USD) compared to 2022, with Thailand achieving a trade surplus of 529 billion baht (14.5 billion USD).
The most important export markets for agricultural products are China, Japan, South Korea, India and Australia. The top 5 agricultural products exported by Thailand are 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).
Looking at the value of trade and the growth rate of the individual FTA partner countries compared to the same period last year, it is clear that China is still the market to which Thailand exports the most agricultural products. They were worth over 449 billion baht, an increase of 10.60 percent. Major exports include durian (137 billion baht), cassava crisps or pellets (39.4 billion baht) and natural rubber (35 billion baht).
Other FTA partners where Thailand’s agricultural exports increased last year include:
- New Zealand: 7.39 billion baht, an increase of 11.18 percent. Major exports include dog and cat food (878 million baht), canned tuna (860 million baht), and sugar from cane (801 million baht).
- Chile: 2.42 billion baht, an increase of 11.75 percent. Major exports include canned tuna (1.69 billion baht), dog and cat food (294 million baht), and processed pineapple (95 million baht).
- Peru: 1.79 billion baht, an increase of 15.98 percent. Major exports include canned tuna (1.3 billion baht), corn for planting (187 million baht), and rice (179 million baht).
Countries where Thailand’s agricultural exports declined include: Japan: down 5.31 percent, South Korea: down 8.47 percent, and India: down 22.49 percent. Major exports include crude palm oil (24.4 billion baht), natural rubber (3.48 billion baht), and soybean oil (2.88 billion baht).
“Despite volatility in the global economy due to rising interest rates and unresolved geopolitical issues in many areas, exports have grown at a slower pace overall. Nevertheless, Thai agricultural products are still able to grow and provide steady income for the country. However, Thai agricultural products still need to improve the quality and standards of products to compete in the still highly competitive global market, especially in terms of environmentally friendly production,” said the Secretary General of the OAU.
