Exports break 17-month record

BANGKOK, 22 April 2010 (NNT) – The export value in March has reached its highest level in 17 months to 16,253.3 million USD, a 40.9% increase, compared to 11,535.6 million of March 2009, fuelled by the world’s more solid economic recovery, while the local political impasse has not yet posed any adverse impacts.

The Commerce Ministry reported that the country’s exports were poised to gain its highest momentum after the latest global economic crisis with the continuous trend from the end of 2009. In Baht term, it rose 32.5% to 535,384 million baht from 404,093.3 million baht.

Commerce Minister Porntiva Nakasai explained that main exports increased in all categories with 49.2% of agricultural and agro-industrial products and 36.5% of industrial products. Exported goods with over 20% expansion include electronics, electric appliances, automobiles, plastic products, textiles, furniture, cosmetics and toys.

Exports to main markets including Japan, European countries, the US and ASEAN, surged 50.1% while exports to new markets also rose in seven consecutive months. Exports in the first quarter of 2010 concluded at 44,381 million USD, a 31.6% rise compared to the same quarter last year.

The ministry said that the import value in March 2010 also hike 59.7% to 15,098.6 million in US Dollar term and 50.3% to 503,083.9 million in Baht term. Core imported products were fuel, capital, raw materials, consumer products and vehicles. 2010’s first quarter posted 42,270.4 million USD of imports, a 58.1% rise on year-on-year basis.

Thailand has a trade surplus of 1,154.8 million USD in March and 2,110.2 million USD in the first three months of 2010.

Mrs Porntiva estimated that next month the export value might fall down to 12,600 million USD due to the Songkran long holiday, the volcano eruption in southern Iceland and continuously strong Baht. Yet, she confirmed that the second quarter could sum up at over 40,000 million USD from 34,000 million USD in the same quarter last year, or a 16% expansion.

The ministry still maintained the estimate of 2010’s export value at 14% on expectations that the political conflict would soon be solved, coupled with the global economy likely to be stronger throughout this year.