News Room - Business/Economics

Posted on 23 Oct 2007

Thailand Exports up 10.4%, led by industrial goods

Thailand's exports continued to post strong growth of 10.4% year-on-year in September to $13.27 billion, boosted by strong shipments of a number of industrial goods.

Exports of automobiles, electrical appliances, plastic pellets and plastic products, in addition to rubber products, last month expanded by more than 15% from last September, the Commerce Ministry reported yesterday.

Shipments to new markets remain active, particularly in major destinations such as Eastern Europe, Hong Kong, India, the Middle East countries, China, and Australia although all conventional markets _, Europe, Asia and the United States _ have declined, said Commerce Minister Krirk-krai Jirapaet.

Export performances from farm and agro-industrial goods, however, declined last month by 2.3% and 6.3% year-on-year respectively due to falling shipments of natural rubber, chilled and processed shrimp and sugar, due mainly to the baht appreciation.

The strong baht caused Japan to buy more shrimp from Indonesia, resulting in a decline in export income from shrimp in September,by 7.7% for fresh shrimp and 9.3% for processed shrimp, he said.

Imports for the month rose year-on-year by 7.4% to $11.31 billion, resulting in a trade surplus of $1.97 billion.

For the first nine months, the country's exports expanded by 16.1% over the same period last year to $110.59 billion while imports rose by 6.4% to $102.14 billion, translating into trade surplus of $8.45 billion.

The minister added that imports of key capital goods had been at manageable levels.

The ministry therefore was maintaining its export growth target of 12.5% to $145.96 billion this year, he added.