Thailand assessing Russia-Ukraine conflict’s impact on trade amid fuel fears

Bilateral trade between Thailand and Russia rose 12.84 per cent to US$2.78 billion last year, according to the Commerce Ministry. Thai exports to Russia accounted for $1.03 billion, while imports stood at $1.75 billion.

Thailand’s trade with Ukraine, meanwhile, rose 5.56 per cent to $386.47 million in 2021. Thai exports to Ukraine were worth $134.76 million and imports $251.71 million.

Krisada said Thailand would also examine the long-term impact on Thai tourism, as the conflict could hit overseas travel by Russians and Europeans, who are core target groups for Thailand.

The Thai tourism industry might have to switch focus to other markets if the conflict drags on, he added.