Thai exports rise for eighth month in a row

Thailand's exports rose for an eighth consecutive month in February and more than expected, the commerce ministry said on Friday.

Exports, a key driver of Southeast Asia's second-largest economy, jumped 14% in February from a year earlier, above a forecast rise of 9.7% in a Reuters poll and following January's 13.6% increase.

Commerce Minister Pichai Naripthaphan told a briefing, trade and investment are flowing in and free trade negotiations will help boost exports. Exports could grow an annual 10% over the first quarter, he said.

In 2024, Thai exports rose 5.4% to a record $301 billion. The ministry has forecast a rise of 2% to 3% this year.

According to Poonpong Naiyanapakorn, head of the Trade Policy and Strategy Office, there was no impact from the US trade policy on Thai exports in the first two months of this year, which increased 13.8% year-on-year.

In February, exports to the U.S., Thailand's biggest market, rose 18.3% from a year earlier, while shipments to China increased 22.4%.

Rice export volumes dropped by an annual 33.1% in February. Thailand, the world's second-largest rice exporter after India, is expected to ship 7.5 million tons this year, down from 9.95 million tons in 2024, following India's resumption of rice exports, according to the commerce ministry.