Thailand's trade with free-trade agreement (FTA) partners rose by 21.8% year-on-year to over US$240 billion in the first half of this year. The key markets driving this growth include Singapore, Australia, Laos, Malaysia, Vietnam and India.
Chotima Iemsawasdikul, director-general of the Department of Trade Negotiations (DTN), said trade with 18 FTA partners accounted for 57.3% of the country's total international trade during the same period.
Exports to FTA nations totalled $105.4 billion, up 12.6%, and imports reached $138.1 billion, up 30%.
China remained Thailand's largest FTA partner, with bilateral trade reaching $91.5 billion, making up 37.6% of total trade with FTA nations. Other major partners were Japan, Malaysia, Vietnam, Singapore and India, all of which serve as key export markets and manufacturing bases linked to Thailand's supply chain.
Exports to FTA markets performed strongly in several countries, with shipments to Singapore rising by 74%, Australia by 43.9%, Laos by 36.4%, Malaysia by 27%, Vietnam by 20.2%, Japan by 12.9% and India by 10%.
The growth was driven by several high-potential product categories. In the agricultural and food sector, exports of fresh, chilled, frozen and dried fruit increased by 16.8%, while processed chicken exports rose by 7.6%.
Industrial product exports also showed strong growth, with gems and jewellery rising by 26%, circuit boards by 20.6%, computers, peripherals and components by 18.5%, rubber products by 10.4%, and automobiles, accessories and parts by 3.8%.
"Although imports from FTA partner countries expanded at a higher rate than exports, most imports consisted of products supporting investment and production. Over 75% of import value comprised raw materials, intermediate goods and capital goods. These are essential inputs for improving production efficiency, creating added value for Thai products and strengthening the country's competitiveness in global markets," Ms Chotima added.
In the second half of the year, the DTN plans to expand and upgrade FTAs to create new trade opportunities and strengthen the country's competitiveness.
The department will accelerate FTA negotiations with the EU and South Korea, as well as negotiations with Canada under the Asean-Canada FTA.
The DTN will work to upgrade existing agreements, including the Asean-India Trade in Goods Agreement, and advance the completed Thailand-Peru FTA towards signing.
