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128592
Fri, 06/18/2010 - 16:51
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Thai exports in May hit record 22 month high
BANGKOK, June 18 (TNA) – Thailand’s exports rose 42.1 per cent year on year in May, their highest level in the past 22 months, valued at over US$16.5 billion, Commerce Minister Pornthiva Nakasai said on Friday.
Exports in May grew for the seventh consecutive month as growth was registered across all key sectors, particularly the farm and agro-industry produce sectors which increased by 29.4 per cent.
Meanwhile, volume of rice exported dropped 12.5 per cent with 11.5 per cent decline in value for the second month, said Mrs Pornthiva.
The significant industrial sectors including electronics and automotive production rose more than 20 per cent.
The exports in the first five months of 2010 (January to May) totalled over US$75 billion, up 34.5 per cent compared to the same period last year.
Exports to main markets grew by 35.2 per cent for seven consecutive months while those to new markets grew for the ninth consecutive month, except for the African market which fell by 25.1 per cent.
The minister, meanwhile, said that the May imports soared 55.1 per cent to over $14.3 billion compared to the same period last year.
Increased imports included energy products by 63.8 per cent, capital goods by 45 per cent and raw materials by 57.7 per cent.
Imports from January to May were valued at over $70 billion, up 54.9 per cent from the same period last year, resulting in a trade surplus of about $2.2 billion in May and more than $4 billion in the first five months of 2010.
Mrs Pornthiva said that the export figure was rather high in May, but the commerce ministry still is waiting to see the figures and growth for June.
She said the growth of June exports is expected to be close to or only slightly lower from those in May.
The minister remained confident that the 2010 exports can grow at least 14 per cent, valued at $174 billion, which was the ministry’s targeted export goal for the whole year.
The ministry planned to revise the export target for the whole year which is likely to increase after export data in the second quarter is released.
As some exporters were worried about the ongoing debt crisis in European Union countries, the minister said officials concerned are monitoring the effects related to the debt crisis. However, the effects on earlier exports sector due to the economic slowdown in Europe were only limited.
In order to compensate for the low exports to European countries, the ministry will look for more new markets because products in various categories, particularly agricultural sector are in demand in the world market.
The exports of agricultural produce of the whole year are projected to earn $190 million (Bt6 trillion) while domestic consumption is expected to be valued at over $60 million (Bt2-3 trillion).
The value of agricultural produce may total $272 million (Bt9 trillion) which will become a driving engine for the country’s economy to grow over four per cent. (TNA)
Exports in May grew for the seventh consecutive month as growth was registered across all key sectors, particularly the farm and agro-industry produce sectors which increased by 29.4 per cent.
Meanwhile, volume of rice exported dropped 12.5 per cent with 11.5 per cent decline in value for the second month, said Mrs Pornthiva.
The significant industrial sectors including electronics and automotive production rose more than 20 per cent.
The exports in the first five months of 2010 (January to May) totalled over US$75 billion, up 34.5 per cent compared to the same period last year.
Exports to main markets grew by 35.2 per cent for seven consecutive months while those to new markets grew for the ninth consecutive month, except for the African market which fell by 25.1 per cent.
The minister, meanwhile, said that the May imports soared 55.1 per cent to over $14.3 billion compared to the same period last year.
Increased imports included energy products by 63.8 per cent, capital goods by 45 per cent and raw materials by 57.7 per cent.
Imports from January to May were valued at over $70 billion, up 54.9 per cent from the same period last year, resulting in a trade surplus of about $2.2 billion in May and more than $4 billion in the first five months of 2010.
Mrs Pornthiva said that the export figure was rather high in May, but the commerce ministry still is waiting to see the figures and growth for June.
She said the growth of June exports is expected to be close to or only slightly lower from those in May.
The minister remained confident that the 2010 exports can grow at least 14 per cent, valued at $174 billion, which was the ministry’s targeted export goal for the whole year.
The ministry planned to revise the export target for the whole year which is likely to increase after export data in the second quarter is released.
As some exporters were worried about the ongoing debt crisis in European Union countries, the minister said officials concerned are monitoring the effects related to the debt crisis. However, the effects on earlier exports sector due to the economic slowdown in Europe were only limited.
In order to compensate for the low exports to European countries, the ministry will look for more new markets because products in various categories, particularly agricultural sector are in demand in the world market.
The exports of agricultural produce of the whole year are projected to earn $190 million (Bt6 trillion) while domestic consumption is expected to be valued at over $60 million (Bt2-3 trillion).
The value of agricultural produce may total $272 million (Bt9 trillion) which will become a driving engine for the country’s economy to grow over four per cent. (TNA)
