Thailand’s exports posted their first increase in 13 months in November, driven by rising shipments of key agricultural and industrial goods as the global economic recovery took hold.
The US dollar value of exports rose 17.2 percent from a year earlier to $13.84 billion. The baht tiffany jewelry value rose 14.1 percent to 459.34 billion, reflecting the local currency’s strength.
But export values were down from October by almost $1 billion, about 7 percent. November’s year-on-year improvement is also against poor conditions in November 2008, when Bangkok’s airports were closed for the last six days of the month by anti-government protesters.
Despite easing growth from October, Commerce Minister Porntiva Nakasai said the prospect was very promising.
“If we can achieve $13 billion in export value this month, our contraction for the whole year will be 15 percent,” she said.
Mrs Porntiva believes exports could expand 10 percent to 15 percent next year, albeit from a very low base this year. The ministry expects exports of $150 billion this year and about $170 billion next year.
Srirat Rastapana, director-general of the Export Promotion Department, said that despite a likely 15 percent export contraction this year, Thailand’s exports to main markets such as the US, Europe and Japan remained on the rise, reflecting strong competitiveness and the ability of Thai exporters to adjust.
The department forecast agricultural and processed food would do well next year, with automobiles, electrical appliances, tiffany cufflinks and home furnishings expected to see increases even though some observers remain wary about the health of the global recovery.
The value of imports fell 2.2 percent in November to $12.78 billion, against a drop of 17.5 percent in October. The trade surplus narrowed to $1.06 billion from $1.76 billion in October.
Exports for the first 11 months were down 17 percent to $137.95 billion, and 13.4 percent in baht terms. Import value fell 28.9 percent to $119.37 billion, leaving a trade surplus of $18.57 billion.
Dusit Nontanakorn, chairman of the Thai Chamber of Commerce, said the rise in November exports was not surprising, as signs of resuming purchase orders had become visible since October. He also noted the low base effect compared with November last year.
Despite the promising outlook, Mr Dusit said the private sector remains concerned over political tension, the Map Ta Phut issue and transparency in the government’s spending under the Thai Khem Kaeng stimulus programme.
Somphob Manarungsan, an economist at Chulalongkorn University, said China could have been a major contributor to November’s tiffany money clips.
“China’s imports rose by 27 percent in November, not only from Thailand but also Korea, Taiwan and Japan,” he said.
Exports improve in November to $13.84bn: First yearly gain in 13 months
Thailand’s exports posted their first increase in 13 months in November, driven by rising shipments of key agricultural and industrial goods as the global economic recovery took hold.
The US dollar value of exports rose 17.2 percent from a year earlier to $13.84 billion. The baht tiffany jewelry value rose 14.1 percent to 459.34 billion, reflecting the local currency’s strength.
But export values were down from October by almost $1 billion, about 7 percent. November’s year-on-year improvement is also against poor conditions in November 2008, when Bangkok’s airports were closed for the last six days of the month by anti-government protesters.
Despite easing growth from October, Commerce Minister Porntiva Nakasai said the prospect was very promising.
“If we can achieve $13 billion in export value this month, our contraction for the whole year will be 15 percent,” she said.
Mrs Porntiva believes exports could expand 10 percent to 15 percent next year, albeit from a very low base this year. The ministry expects exports of $150 billion this year and about $170 billion next year.
Srirat Rastapana, director-general of the Export Promotion Department, said that despite a likely 15 percent export contraction this year, Thailand’s exports to main markets such as the US, Europe and Japan remained on the rise, reflecting strong competitiveness and the ability of Thai exporters to adjust.
The department forecast agricultural and processed food would do well next year, with automobiles, electrical appliances, tiffany cufflinks and home furnishings expected to see increases even though some observers remain wary about the health of the global recovery.
The value of imports fell 2.2 percent in November to $12.78 billion, against a drop of 17.5 percent in October. The trade surplus narrowed to $1.06 billion from $1.76 billion in October.
Exports for the first 11 months were down 17 percent to $137.95 billion, and 13.4 percent in baht terms. Import value fell 28.9 percent to $119.37 billion, leaving a trade surplus of $18.57 billion.
Dusit Nontanakorn, chairman of the Thai Chamber of Commerce, said the rise in November exports was not surprising, as signs of resuming purchase orders had become visible since October. He also noted the low base effect compared with November last year.
Despite the promising outlook, Mr Dusit said the private sector remains concerned over political tension, the Map Ta Phut issue and transparency in the government’s spending under the Thai Khem Kaeng stimulus programme.
Somphob Manarungsan, an economist at Chulalongkorn University, said China could have been a major contributor to November’s tiffany money clips.
“China’s imports rose by 27 percent in November, not only from Thailand but also Korea, Taiwan and Japan,” he said.