Thai exports in September hit record 9-month period high

BANGKOK, Oct 21 (TNA) – Thai exports in September soared to their highest level in nine months, but fell by 8.5 per cent year-on-year, according to the Commerce Ministry.

The drop in September, compared to last year, was a slight decline on a yearly basis.

However, exports in September rose by 12.2 per cent from the previous month, said Commerce Minister Pornthiva Nakasai. The country’s shipments in the first nine months of this year totalled US$109.3 billion, a drop of 21.4 per cent year-on-year.

Exports of agricultural and agro-industrial products such as tapioca and seafood mainly increased.

Imports in September were valued at US$12.9 billion, a drop of 17.9 per cent, compared to the same period last year, while imports from January to September in 2009 accounted for US$93.6 billion, shrinking 32.7 per cent from the year before.

As a result, Thailand enjoyed a trade surplus of US$15.7 billion in the first nine months of this year.

The commerce minister was confident that exports in the fourth quarter will turn to positive at around three to five per cent, revising upward the 2009 exports projected earlier to contract by 18 per cent to a 10-13 per cent contraction. Exports next year are projected to grow around 10 per cent, resulting from growth of the world economy, increasing orders from trade partners and penetration of new potential markets, said Mrs Pornthiva.

However, oil prices remain a worrisome factor beyond control. The commerce ministry discussed with the Bank of Thailand (BoT) helping Thai exporters by working to stabilise the baht, said the minister. (TNA)