Thai Export Growth Hits 18-month High: Minister

Thai export growth hits 18-month high: minister

BANGKOK: -- (AFP) - Thai exports grew at their fastest rate for 18 months in January because of a recovery in the kingdom's main markets, the commerce minister said Friday.

Exports climbed 30.8 percent year-on-year to a total of 13.7 billion dollars, Porntiva Nakasai said, as Thailand's economic recovery continued.

The figure was also the third straight month of growth in every sector, while shipments expanded 26.1 percent from the previous month.

Agricultural and agri-products such as rice and rubber grew at 46.2 percent while the industrial sector, including electronic appliances and the auto sector, surged 27.8 percent.

Porntiva said exports to the United States, Japan and the European Union, all grew at an average of 28.4 percent as Thailand's main markets emerge from the global economic crisis.

Growth was bigger closer to home, with exports to the five main members of the Association of Southeast Asian Nations (ASEAN), of which Thailand is a member, leaping 66.6 percent.

New markets were even larger, with shipments to India soaring 141.7 percent and Taiwan 96 percent.

"We are still confident that this year exports will grow by 14 percent from last year and the export value will top 170 billion dollars," Porntiva said.

But Thailand's political turmoil continued to be a risk, with a major court judgement on frozen assets of ousted former premier Thaksin Shinawatra due next week, said Commerce Ministry permanent secretary Yanyong Puangrach.

However, Yanyong said this would not affect exports unless anti-government protesters blockaded airports, as happened in late 2008 in Bangkok, or seaports.

-- ©Copyright AFP 2010-02-19

Published with written approval from AFP.

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