Trade Surplus In Us Dollars, Deficit In Baht

[george]

Trade surplus in US dollars, deficit in baht

BANGKOK: -- The current strength of the baht shows up dramatically in trade figures released Monday by the Commerce Ministry.

In US-dollar terms, Thailand's trade balance moved into the black for the first time this year at the end of October, with a surplus of US$447.2 million (Bt16.37 billion). But when the figures are converted to a constantly strengthening baht, the surplus becomes a deficit of Bt17.08 billion. The difference is due mainly to the baht's appreciation against the dollar.

The year's first trade-surplus figures resulted when the total value of exports reached $107.11 billion, equal to Bt4.10 trillion when converted over the first 10 months of the year, or up 16.8 per cent. The total value of imports over the same period was $106.67 billion, equal to Bt4.12 trillion, a jump of 7.92 per cent.

Commerce permanent secretary Karun Kittisataporn said Thailand had a trade surplus in dollar terms but remained in deficit after converting to the baht. This is normal, because of the baht's strength.

-- The Nation 2006-11-20