Export jump fuels hope for full year
GROWTH OF 0.2% TO BT7.7 TRN IN SIGHT
Export jump fuels hope for full year
GROWTH OF 0.2% TO BT7.7 TRN IN SIGHT
EXPORTS in November swung back to the highest value in 10 months, increasing hope that overseas shipments for the whole year will grow by 0.2 per cent to $214.78 billion (Bt7.7 trillion), the Commerce Ministry reported yesterday.
The ministry said export value last month increased by 10.2 per cent to $18.91 billion, (Bt657.62 billion), while imports rose 2.97 per cent, the third consecutive monthly increase, to $17.36 billion. The country locked in a trade surplus of $1.54 billion in November.
Export value in the first |11 months was down by |0.05 per cent to $197.16 |billion. Imports declined by 5.13 per cent to $177.44 billion, resulting in a trade surplus of $19.72 billion for the period.
Pimchanok Vonkorpon, deputy director-general of the ministry’s Trade Policy and Strategy Office, said there were positive signs that export growth for the full year would be in a range of minus-0.1 per cent to plus-0.2 per cent, for total value of $214.13 billion to $214.78 billion. That would |be an improvement over some predictions of a 2 per cent |contraction.
She said there was a good possibility that December could see export growth of 3.04 per cent, thanks to recovering demand in many markets. This would be driven by higher agricultural exports, especially rubber and sugar, and higher oil prices along with the weaker baht.
The ministry forecasts export growth next year of 2.5-3 per cent.
Last month saw strong expansion in the export of many agricultural products, especially rice, which grew by 25.9 per cent, rubber by 15.6 per cent, tapioca by 18.4 per cent, and chicken by 20.8 per cent.
Exports of industrial goods also increased, particularly machinery, electrical appliances, plastic products and rubber products.
Exports to all markets increased last month, except to Australia and the Middle East.
Imports last month increased, mainly from capital goods by 1.68 per cent, and raw and semi-raw materials by 2.46 per cent.
