Thai Exports Post First Growth Since Floods

Thai exports post first growth since floods

Bangkok, March 28, 2012 (AFP) - Thai exports rose in February for the first time since last year's disastrous floods, climbing 0.91 percent year-on-year and up 21.0 percent from January, the commerce ministry said Wednesday.

The positive figures reversed three months of declines since the crippling floods which left more than 800 people dead and disrupted production in Thailand's industrial heartland.

Exports for February totalled $19.0 billion while imports rose 8.2 percent year-on-year to $18.5 billion.

Increasing demand from fellow members of the Association of Southeast Asian Nations and China were the main factors driving export growth, said Deputy commerce minister Poom Sarapol, while improving agricultural product prices also helped.

But for the first two months exports fell 2.4 percent to $34.77 billion compared with last year.

Thailand posted a trade surplus of $529.7 million in February but the figure was a 70.1 percent plunge from the same period a year ago.

For first two months, the kingdom suffered a trade deficit of $597.5 million, reversing a $913.8 million surplus in the same period last year.

Poom said the ministry was maintaining its export growth target of 15 percent for the year and he expected March exports to continue to expand at a rapid pace.

-- Dow Jones Newswires contributed to this story --

-- (c) Copyright AFP 2012-03-28