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2025-09-13 12:52:04
[Surge in Thai gold exports to Cambodia pushes up the baht, sparking calls for an investigation] An unusual surge in Thailand's gold exports to neighboring Cambodia has sparked calls for an investigation. These exports are seen as one of the factors pushing up the Thai baht, whose appreciation is threatening the country's exports and tourism industry. According to customs department data, Thailand's gold exports to Cambodia increased by 19% year-on-year to 71.3 billion baht (about US$2.25 billion) in the first seven months of 2025. The growth rate may allow exports this year to exceed the record of 106 billion baht set last year. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, said that gold and jewelry exports to Cambodia have surged since last year, and the scale is inconsistent with the country's size and demand. "This looks suspicious," Kriengkrai said, calling on the Bank of Thailand, Customs and the Ministry of Commerce to launch an investigation. "It may involve gray industries such as scams and casinos. They may use gold as a tool for money laundering."
