Thai exports in the first six months contract by 23.5 per cent

BANGKOK, July 20 (TNA) – Thailand’s exports in the first half of 2009 contracted by nearly one-quarter — 23.5 per cent, compared to the same period last year, according to Siripol Yodmuangcharoen, Ministry of Commerce permanent secretary. 
 
Exports in June, worth US$12.3 billion, dropped by 25.9 per cent, compared to the same period of the year earlier. The drop in exports was recorded for the eight consecutive months since November, and represented a deepening of the overall trend.

Exports of agricultural commodities, including rice, tapioca and seafood, fell as did industrial goods.
 
Meanwhile, imports in June, worth $11.4 billion, fell 29.3 per cent and imports in the first half of this year shrank 35.4 per cent. Imported goods that dropped included fuel, raw materials and consumer goods.
 
Thailand’s trade surplus in June stood at $936.6 million and its trade surplus in the first six months amounted to nearly $11 billion — $10.991 billion.  
 
Exports in the second half of this year are expected to improve, said Mr. Siripol.
 
The Department of Export Promotion (DEP), as well as trade representative offices in foreign countries and the private sector, are gearing up to maintain major markets and also to find new markets for Thai goods, he added.
 
The overall picture of Thai exports next year is likely to grow by 12-15 per cent, supported by the recovery of the world economy and implementation of the government’s stimulus packages, said the permanent secretary.
 
Thai exports, particularly electric and electronic goods, are expected to improve in the second half of this year as more orders have been received. It’s a good sign, said Rachane Potjanasuntorn, DEP director general.
 
The department has been working to implement several projects which are expected to help the country see export growth in 2010, he said. (TNA)