7 Powerhouse Stocks Fueling Thai Export Growth: August’s 7% Surge Revealed

Reporter reports Ministry of Commerce Reported export sales in August 2024 increased by 7.0% compared to the same period last year, better than the market’s expectation of a 6.0% increase compared to the same period last year. Supported by growth in all product categories.

1) Agricultural products expanded for 2 consecutive months at 17.5% compared to the same period last year. The product that grew well was rubber, growing for 10 consecutive months at 64.8% compared to the same period last year, including rice, which continued to expand. and fresh fruit that has turned around and grown a little

2) Agro-industrial products expanded for 2 consecutive months at 17.1% compared to the same period last year. Pet food grew for 11 consecutive months at 25.0% compared to the same period last year. Meanwhile, canned and processed seafood expanded for 2 consecutive months at 20.5% compared to the same period last year.

3) Industrial products grew for 5 consecutive months at 5.2% compared to the same period last year. Products that grew well were computers, machines, telephones, chemicals, air conditioners. and rubber products The Automobile and Components segment returned to small growth this month.

For export products that are still growing well, we see this as a positive sentiment. Sri Trang Agro-Industry Public Company Limited or STA, Northeast Rubber Public Company Limited or NER, Thai Eastern Group Holdings Public Company Limited or GO, Asian Alliance International Public Company Limited or AAI, I-Tel Corporation Public Company Limited or ICT, Thai Union Group Public Company Limited or TU a Canning Tropical Public Company Limited (Thailand). or TC

For the general picture, for the first 8 months of the year, Thai exports grew by 4.2% compared to the same period last year. It is considered to be better than the Ministry of Commerce’s previous forecast. The main stimulus for the rest of the year is agricultural products which are likely to continue to expand. and the economies of important trading partners, especially China, if consumption recovers some of the Chinese government’s stimulus. It should be a supporting factor for Thai exports. However, an important risk factor that must be monitored is the rapid appreciation of the baht, which could affect the demand of trading partners.

Corresponds to the analytical section Krungsri Patanasin Securities Public Company Limited Thai exports in August were said to have increased for the second consecutive month, coming out at 7% compared to the same period last year, better than the market’s 6.0% compared to the same period last year. And imports in August came out 8.9%, higher than the market expected by 6.5% compared to the same period last year and 13.1% compared to the same period last year. and returned to a trade surplus of $625 million.

For Thai exports in August, growth was 7% compared to the same period last year. More than expected the market growth of 6% compared to the same period last year. Prominent export products are rubber and rice There is a positive view on Rubber Stocks Northeast Rubber Public Company Limited or NER, Sri Trang Agro-Industry Public Company Limited or STA

Including groups that will benefit indirectly, such as retail groups. CP All Public Company Limited or CPALL, Dohome Public Company Limited or DOHOME

pet food group Asian Alliance International Public Company Limited or AAI, I-Tel Corporation Public Company Limited or ICT

canned seafood Thai Union Group Public Company Limited or TU