Business News
Thailand's exports up 15.7 per cent in October
Nov 19, 2010, 7:30 GMT
Bangkok - Thailand's exports hit 17.3 billion dollars last month, a 15.7-per-cent year-on-year increase, and contributed to a 2.5-billion-dollar trade surplus for the kingdom, the commerce minister said Friday.
Porntiva Nakasai said imports in October amounted to 14.8 billion dollars, up 13.5 per cent from the same month a year ago.
For the first 10 months of 2010, Thailand's exports earned the country 160.3 billion dollars, up 29.2 per cent year-on-year, while imports were worth 148.8 billion, up 39.8 per cent, leaving a trade surplus of 11.5 billion dollars, she said.
Export growth surpassed 30 per cent during the first half of this year as demand in Thailand's main markets - the United States, Europe and Japan - recovered from the 2009 recession.
The growth slowed somewhat in September and October because of a sharp appreciation of the baht currency against the dollar, Porntiva said. The baht has appreciated more than 11 per cent against the dollar this year.
'I expect exports for all of 2010 to grow about 24 per cent,' she said.
International trade is Thailand's main engine of economic growth, accounting for more than 65 per cent of the country's gross domestic product.
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