Thailand, the world’s largest natural rubber producer, consolidated its position as the top global condom exporter in 2022, according to data from the Commerce Ministry.
The Southeast Asian nation shipped condoms worth $272.3 million last year, with China, the US and Vietnam topping the list of importers of Thai made contraceptives, the ministry data showed.
Thailand holds the highest share in global condom exports, accounting for 44% of the world market, up from 43.7% a year earlier, the ministry said. Data also showed the nation dominated durian exports, which at $3.22 billion was the fourth-largest agricultural product in value terms.
Rubber and fruit account for less than 10% of Thai exports, with the total equaling more than half of economic output. The government expects a hit to outbound commerce this year amid slowing global demand, with exports in March dropping 4.2% from a year earlier.
Thai share of durian exports dropped by a tad from 2021 after Vietnam got approval to send durians to China, Thailand’s biggest buyer.
“Exporters need to be on alert as we are losing marker share,” Poonpong Naiyanapakorn, director general for the ministry’s trade policy and strategy office. “We need to diversify our risk from relying too much on China.”
Source: Bloomberg