Thai exports to Latin America rise by 4.6%

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NONTHABURI – Thailand’s exports to Latin America have grown by 4.6 percent in the first five months this year with trade negotiations resulting in purchase orders worth 344 million baht.

Department of International Trade Promotion (DITP) Director-General Malee Choklumlerd said Thai businesspersons’ visits to Costa Rica, Peru, and Colombia for trade negotiations resulted in a satisfactory outcome with purchase orders made in a year worth 10.13 million US dollars, or approximately 344.47 million baht.

She said Thai products have the advantages in remarkable qualities making them able to be sold at higher prices. However, Thai entrepreneurs faced challenges in terms of language barriers, high import tax, regulations, and complex importing procedures and relevant costs.

Thai products which have received purchase orders from the Latin American markets included foods manufactured by nine companies, automobile parts by four companies, and other industrial products.

Thailand’s exports to Latin America during the first five months this year accounted for 3.132 billion US dollars, marking a 4.6 percent growth. Key export products to Latin America included automobiles and components, computers and components. Thailand imported 1,876 billion US dollar worth of goods from Latin America, accounting for a 969 percent increase, with key import products being plants and plant products; fresh, frozen, or processed aquatic animals; as well as machinery and components.