Japanese businesses remain the top foreign investors in Thailand, with overall investments totaling US$27.78 billion and accounting for a quarter of all foreign investments in the country.
The information was revealed by Deputy Prime Minister and Commerce Minister Jurin Laksanawisit, who elaborated that more than 6,000 Japanese companies operate in Thailand, compared to nearly 15,000 in other ASEAN member states.
The major Japanese businesses in Thailand are holding companies, commercial banks, steel, auto parts and electronic parts.
Thailand’s exports to Japan have been declining for five consecutive months. In January, the kingdom’s exports to Japan fell by 9.2%, with chemical products, processed chicken and copper being the most affected.
Japan is Thailand’s third-largest bilateral trade partner, after China and the United States. Thai trade with China, which was valued at 59.25 billion dollars, decreased by 2.3% from the previous year.
Last year, Thailand’s bilateral trade with Japan was worth 24.67 billion dollars in exports and 34.58 billion dollars in imports, resulting in a trade deficit of $9.92 billion.
Despite the decline in exports, Japanese businesses continue to invest in Thailand – a testament to the strong economic ties between the two nations. (NNT)