Thai exports in November grow 28 per cent: Commerce Ministry

BANGKOK, Dec 20 – The Commerce Ministry disclosed Thai exports in November were valued at US$17.7 billion, nearly 28.5 per cent growth, compared to the same period last year.

Imports were valued at $17.2 billion, an expansion of 35.3 per cent, so Thailand enjoyed a trade surplus of $407 million, Commerce Minister Porntiva Nakasai said.

Exports in the first 11 months of 2010 were valued at $177 billion, a growth of 29.15 per cent and imports in same period were valued at $166 billion, a 39 per cent increase. Thailand's trade surplus from January through November was $11.87 billion.

If exports in December reach $14-15.5 billion, exports for the whole year is likely to surpass $190 billion, a growth of about 26-28 per cent, as projected by the ministry.

Mrs Pornthiva said exports in November grew at a satisfactory level, favoured by export stimulus and privileges under the Free Trade Agreement, border trade cooperation.

However, exporters are concerned over the volatility of currency exchange rates. They must adjust goods prices in the wake of the strengthening baht and most of exporters have adapted to handle the baht appreciation.

The commerce ministry projected that exports are likely to grow by ten per cent worth US$210 billion in 2011. The Commerce Ministry will speed up its marketing campaigns and promote e-commerce businesses.

Risk factors are capital movement, baht appreciation and other problems. The commerce ministry and the government will prepare to help all groups of entrepreneurs and find new markets.

The commerce ministry will propose assistance measures for exporters and Small and Medium Enterprises (SMEs) during Tuesday's Cabinet meeting. The private sector wants government to help them in regard to tax measures to reduce the capital cost, she added. (MCOT online news)

-- TNA 2010-12-20

Thai exports log sharpest rise in five months

BANGKOK, December 20, 2010 (AFP) - Thailand's exports rose at the fastest pace in five months in November from a year earlier, government data showed Monday, easing concerns about the outlook for its economy.

Helped by strong demand for rice, Thai shipments jumped 28.5 percent from the same period of 2009, to 17.69 billion dollars, the commerce ministry said.

It was the 13th consecutive monthly rise and the sharpest increase since a leap of 46.3 percent in June -- the biggest on record.

Imports grew at an even faster pace last month, soaring 35.3 percent to 17.29 billion dollars on increased demand for fuel, the data showed.

As a result, the country posted a November trade surplus of 407.9 million dollars, down 59.1 percent from a year earlier.

Last month Thailand revised up its export growth target to about 25 percent in 2010, from a previous projection of 20 percent.

The latest data eased concern about an economy that slipped back into technical recession with a second straight quarterly contraction in the three months to September, due to a strong baht and a weak global economy.

Policymakers also appear upbeat about the outlook. The Bank of Thailand raised its key interest rate earlier this month to 2.0 percent saying the country's economic fundamentals remained strong.

The Thai economy has shown resilience following mass opposition protests in April and May which sparked violence that left more than 90 people dead, scared off foreign tourists and paralysed the retail heart of the capital.

-- (c) Copyright AFP 2010-12-20