Exports Still Favourable Despite Baht Rise

Exports still favourable despite baht rise, says commerce minister

BANGKOK: -- Commerce Minister Krirkkrai Jirapaet said the country’s exports continued to be favourable with a trade surplus of almost US$2 billion in the first two months of this year despite the baht appreciation.

Speaking after a meeting with representatives of the three private-sector organisations including the Thai Chamber of Commerce, Federation of Thai Industries, and Thai Bankers’ Association, he said an unofficial figure in February showed the export value totaled $11.23 billion, up 18.4 per cent from the same month last year.

It brought up the total export value in the first two months of this year to $21.7 billion, up 18 per cent.

The import value in February totaled $10.1 billion, up 3 per cent from the same month the year before. It resulted in a trade surplus of around $1.12 billion compared with a trade deficit of $316 million in the same month of the previous year.

It made the country enjoyed a trade surplus of around $2 billion in the first two months of the year.

Mr. Krirkkrai said the ministry still maintained the export growth projection for this year at 12.5 per cent.

The export figures in the first two months of the year showed the Thai economic competitiveness remained sound.

Although the exports would be affected by the baht strengthening to a certain extent, the commerce minister said he believed a firm cooperation in seeking new export destinations and boosting the competitive edge could ease the impact, he said.

--TNA 2007-04-10