The Thai National Shippers' Council is concerned about the impact of rising conflicts in the Middle East on Thai trade, particularly with tensions between Israel and Iran. The Strait of Hormuz is an essential route for oil shipments, and any disruption could lead to spikes in oil prices affecting Thailand's economy. In 2023, Thai exports to the Middle East reached eleven billion one hundred sixty-seven million dollars, indicating the region's importance to Thailand’s trade.
The Thai National Shippers' Council is worried about the impact of escalating conflicts in the Middle East, especially the rising tensions between Israel and Iran, on Thai trade.
The Strait of Hormuz, essential for global oil shipments, is a critical point of concern as its closure could cause oil prices to spike, severely affecting the global economy and Thailand, a major oil importer.
The strait is also a primary route for Thai exports to the Middle East.
In 2023, Thailand's exports to the region amounted to 11.167 billion dollars.
The ongoing situation requires vigilant monitoring as it could directly and indirectly impact Thailand's economy.