Thailand sees positive export growth despite strong baht
Thailand’s exports in June enjoyed sustained growth of 11.7 percent year on year, despite its currency baht remained strong, according to the country’s Ministry of Commerce.
Bangkok (VNA) – Thailand’s exports in Juneenjoyed sustained growth of 11.7 percent year on year, despite its currency bahtremained strong, according to the country’s Ministry of Commerce.
The latest report released by the ministry on July 25shows that it was the second consecutive month the Thai exports had posted apositive growth which amounted to 20.3 billion USD, leading to a trade surplusof 1.9 billion USD.
The May exports rose by 13.2 percent after the Bahtpicked up 6.1 percent, the country’s record high in the last 26 months and theAsia’s second highest, following the Republic of Korea’s won.
Thailand’s key importers in June included Japan, Chinaand ASEAN countries like Cambodia, Laos, Myanmar and Vietnam who mostlypurchased rubber, sugar, fresh and canned fruits, frozen or processed poultry,computers, plastic and chemicals.
The exports to Japan, the US and the EU saw notable increasesof 26.5 percent, 8.2 percent and 5.9 percent, respectively.
The country’s export turnover expanded by 7.8 percent to114 billion USD during the first half of 2017 while the imports gained 15percent to 107 billion USD.
The ministry forecast that this year’s exports will beable to meet the 5 percent growth target, compared to last year’ 0.5percent.-VNA
Thailand’s Commerce Minister Apiradee Tantaraporn expects Thai exports to increase by 5 percent this year due to several supporting factors involving global oil prices and the prices of farm goods.
The Fiscal Policy Office (FPO) under the Thai Ministry of Finance has raised its growth forecast for the country in 2017 to 4 percent as economic conditions have been improved.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Illustrative image (Source: Financial Tribune) 
