Durian products and Thai rubber gloves dominate the FTA and GSP rights in 2020

Published 2021년 2월 25일

Tridge summary

In 2020, Thailand's trade benefits for exports fell by 10.46% to a total of 62,338.86 million US dollars, due to the slowdown in exports caused by the COVID-19 pandemic. The Department of Foreign Trade reported that the utilization rate was 76.06%. 'Fresh durian' products had the highest FTA rights, while 'rubber gloves' had the highest GSP rights. The department expects the use of trade benefits to increase in 2021 due to the recovery of exports and economic activity. However, the renewal of the US GSP program, which expired at the end of 2020, is not yet renewed, but Thai exports to the US can still exercise GSP rights.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Department of Foreign Trade revealed trade benefits totaling in 2020 amounted to 62,338.86 million US dollars, down 10.46% in line with the slowdown in exports. The exercise ratio was 76.06%. The "fresh durian" products exercised the highest FTA, while the "rubber gloves" exercised the highest GSP rights expected. According to the recovery of exports And the development of services to apply for rights more easily. Mr. Kirati Rachano, Director-General of the Department of Foreign Trade revealed that the use of trade benefits for exports under the Free Trade Agreement (FTA) and under the preferential system. The General Tariff (GSP) in 2020 was valued at US $ 62,338.86 million, down 10.46%, in line with the decline in overall exports. Because it was affected by the epidemic of COVID-19 And has a proportion of 76.06% of all eligible products It is divided into the exercise of rights under the FTA valued at US $ 58,077.18 million, a decrease of 11.41% with a 76.53% exercise ratio ...

Source: Prachachat