Commerce ministry launches Import Potential Index
The Minister of Commerce has developed the Import Potential Index (IPI) on the import potential of 168 countries with the objective to revise Thailand's export strategy in alignment with the real export potential of each country.
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Director of the Office of Strategic Policy and Trade Strategy Pimchanok Wornkhorphorn said the index found that the three countries wilth the highest import potential are China, the US and India. Among the top 30, there are as many as 10 Asian countries and five ASEAN members.
When compared Thailand's export value with the top 120 countries with the highest import potential, there are 24 countries which are considered potential markets for Thai exports. These countries include China, the US, Hong Kong and Japan.
There are 45 countries that Thailand's exports exceed their import potential and 51 countries, including India, the UK and the UAE, that Thailand exports to them below their potential. There are opportunities for Thai exporters to expand to these countries, the director suggested.
The index will be submitted to Deputy Prime Minister Somkid Jatusripitak within this week. The index is expected to be revised twice a year to keep up with the current situation.