Covid-19 impacts Q1 exports using 10% FTA-GSP rights

Published 2020년 6월 4일

Tridge summary

The Director-General of Thailand's Department of Foreign Trade, Mr. Kirati Ratchano, reported a 9.97% decrease in the total value of export benefits under Free Trade Agreements (FTAs) and the General Customs Tariff System (GSP) for the first quarter of 2020, amounting to 16,249.72 million US dollars with 75.53% utilization. The most significant markets were ASEAN, China, and Japan, with key exports including automobiles, air conditioners, and other beverages. Despite the COVID-19 pandemic's impact on exports, there has been growth in benefits used under the GSP system, especially from the United States, and there has been an increase in exports of Thai beverages and processed food to partner countries.

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

Original content

Mr. Kirati Ratchano, Director-General of the Department of Foreign Trade Revealed the results of the use of export benefits under the Free Trade Agreement (FTA) and under the General Customs Tariff System (GSP) during the 3 months of 2020 (Jan-Mar. .) That the total value of benefits was 16,249.72 million US dollars, down 9.97% with 75.53% of the total exercise of rights. Divided into an exercise of benefits under the FTA worth 14,911.35 million US dollars. And using benefits under the GSP worth US $ 1,338.37 million. The market that Thailand exports with the top 5 FTAs is ASEAN, worth 5,621.43 million US dollars. There are important export products that have a high value of usage, such as air conditioners used to attach windows, walls, ceilings or areas with complete components. Cars for transporting people Cylinder capacity 1,500-2,500 cubic meters of other beverages, China worth 3,762.02 million US dollars. There are important export products that have a high value of usage, ...

Source: Ththansettakij