Thailand sees exports grow over 17 pct in November

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Thailand’s exports last month rose for the first time this year from November last year by 17.2 percent to US$13.84 billion while the value of the imports fell 2.2 percent from the same period last year to US$12.7 billion.

Commerce Minister Porntiva Nakasai on Monday said the increase in the value of exports in November was supported significantly by the growth in agricultural and agro-industrial products, such as cassava, frozen and processed shrimp and sugar, and the industrial goods, such as electronic appliances, jewellery and cosmetics, by 28.6 and 13.2 percent respectively.

In addition, she said, the exports to key markets, such as USA, Europe and Japan, rose 5.9 percent while those to new markets, which include China, Australia, Hong Kong, Myanmar, India and Taiwan, grew as much as 29.9 percent.

However, the exports during the first 11 months of this year were down US$137 billion, a drop of 17 percent from the same period last year while the imports during the same period were at US$119 billion, a drop of 28.9 percent.

The country’s trade surplus in November was recorded at US$1.058 billion and during the first 11 month of this year was at US$18.57 billion.

When compared with those in October, November’s export values were about seven percent or almost US$1 billion lower than in October by almost $1 billion while the trade surplus narrowed to US$1.06 billion from US$1.76 billion in October.

The Commerce Ministry also forecast that exports in December will exceed US$13 billion, making the exports for the entire year to contract by 13-15 percent to US$150 billion with a trade surplus of $18.57 billion for the year.

Exports in the first three quarters shrank but will turn around to grow seven percent in the fourth quarter.

The ministry also predicted that exports in 2010 will expand around 10-15 percent to about US$170 billion.

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