Posted on 24 Nov 2008
The value of
However, the slower growth will not affect targeted export expansion of 15 to 20 per cent for the whole year, according to the Commerce Ministry.
The ministry said yesterday that exports to
The ministry affirmed its forecast that export value would grow by at least 5 per cent next year.
Rachane Potjanasuntorn, director-general of Department of Export Promotion, said export value had increased by 5.2 per cent to US$15.26 billion (Bt538 billion) in October, the lowest year-on-year expansion since July 2002.
The value of imports rose 21.68 per cent to $15.82 billion, resulting in a trade deficit of $558.7 million.
Major export goods such as agricultural and agro-industrial products, particularly rice and frozen and processed shrimp and chicken, held up.
However, exports of electronic products and parts dropped by 4.2 per cent, electrical appliances fell by 16 per cent, and furniture and parts decreased by 3.9 per cent.
Major imports included crude oil, machinery and computers and parts.
The Kingdom's exports during the first 10 months of the year rose by an impressive 21.68 per cent to $151.19 billion, while import value increased significantly by 34.22 per cent to $154.48 billion.
As a result, the 10-month trade deficit came in at $3.3 billion.
"We should not consider only October export figures but look at the 10-month picture," Rachane said.
Exports to major traditional markets such as the
However, exports to Asean dropped by 5 per cent.
"We will achieve the export goal of 15- to 20-per-cent growth to between $174.91 billion and $182.51 billion this year," he said.
