Thai exports in November grow 28 per cent: Commerce Ministry

ANGKOK, Dec 20 – The Commerce Ministry disclosed Thai exports in November were valued at US$17.7 billion, nearly 28.5 per cent growth, compared to the same period last year.

Imports were valued at $17.2 billion, an expansion of 35.3 per cent, so Thailand enjoyed a trade surplus of $407 million, Commerce Minister Porntiva Nakasai said.

Exports in the first 11 months of 2010 were valued at $177 billion, a growth of 29.15 per cent and imports in same period were valued at $166 billion, a 39 per cent increase. Thailand’s trade surplus from January through November was $11.87 billion.

If exports in December reach $14-15.5 billion, exports for the whole year is likely to surpass $190 billion, a growth of about 26-28 per cent, as projected by the ministry.

Mrs Pornthiva said exports in November grew at a satisfactory level, favoured by export stimulus and privileges under the Free Trade Agreement, border trade cooperation.

However, exporters are concerned over the volatility of currency exchange rates. They must adjust goods prices in the wake of the strengthening baht and most of exporters have adapted to handle the baht appreciation.

The commerce ministry projected that exports are likely to grow by ten per cent worth US$210 billion in 2011. The Commerce Ministry will speed up its marketing campaigns and promote e-commerce businesses.

Risk factors are capital movement, baht appreciation and other problems. The commerce ministry and the government will prepare to help all groups of entrepreneurs and find new markets.

The commerce ministry will propose assistance measures for exporters and Small and Medium Enterprises (SMEs) during Tuesday’s Cabinet meeting. The private sector wants government to help them in regard to tax measures to reduce the capital cost, she added. (MCOT online news)