Exports drop 0.3% last year - first contraction in 4 yrs
The country's exports last year declined by 0.3 per cent from the preceding year - the country's first such deficit in four years, a senior Commerce Ministry official said Friday.
Thai News Agency quoted Srirat Rastapana, permanent secretary for commerce, as saying last year’s export value at US$228.5 billion and imports at US$250.7 billion, or a 0.29 per cent increase.
She said the export deficit was less severe than those of Malaysia and Indonesia, both of which reported deficits at 8.96 per cent and 6 per cent respectively.
Vietnam, on the other hand, enjoyed a 16.47 per cent export growth.
Exports in December enjoyed a slight increase to US$18.4 billion despite registering a deficit in the three preceding months.
She predicted Thailand’s gross domestic product (GDP) to grow 3-5 per cent this year, which is equivalent to the average projected GDP growth in China, India and Southeast Asian countries.
Regarding the downward trend of Thai baht this year due to the US adjusted measures on quantitative easing, Ms Srirat said Thailand’s medium-term export growth should be at 5 per cent this year.
