By Kitiphong Thaichareon and Orathai Sriring
BANGKOK- Thailand’s exports rose for a sixth straight month and more than expected in December, with the commerce ministry saying on Thursday that shipments would increase further in January but that uncertainty over US trade policies posed a challenge.
Exports a key driver of Southeast Asia’s second-largest economy, grew 8.7 percent in December from a year earlier, beating a forecast for an 8.15 percent rise in a Reuters poll and up from November’s 8.2 percent increase.
The ministry is maintaining an export growth target of 2 percent-3 percent for 2025, after last year’s 5.4 percent rise to a record $301 billion.
According to preliminary data, the ministry expects exports to rise again in January, while it is monitoring the impact of US President Donald Trump’s trade policies, Poonpong Naiyanapakorn, head of the Trade Policy and Strategy Office, told a news conference.
“We have to wait and see … his policies are being gradually released, with both positive and negative impacts on Thailand and neighboring Southeast Asian countries,” he said.
The commerce minister is planning to travel to the United States next month to discuss trade and tariffs with US officials, he said.
The ministry said there were challenges to growing Thai exports from uncertain US trade policies, prolonged geopolitical tensions and fluctuations in exchange rates.
In December, exports to the United States, Thailand’s biggest market, rose 17.5 percent year-on-year. For all of 2024, exports to the US were up 13.7 percent and accounted for an 18.3 percent share of Thailand’s total exports.
Shipments to China rose 15 percent in December from a year earlier, while shipments of computers and components increased 44 percent. Exports of cars and car parts, however, fell 7 percent.
Rice exports were also down in December, falling 7.1 percent from a year earlier, although rising 13.4 percent for the full year to 9.95 million metric tons.
Thailand, the world’s second-biggest rice exporter, expects rice shipments to drop to 7.5 million tons in 2025 due to more competition from biggest exporter India and less demand from Indonesia, according to the Thai Rice Exporters Association. —Reuters