Thailand records higher exports of US$20.22bil in February

BANGKOK, March 25 (Bernama): Thailand’s international trade has improved in line with the gradual recovery of the global economy, with its export value rising month-on-month to above US$20 billion in February.

However, year-on-year (y-o-y), exports fell 2.59 per cent to US$20.22 billion (US$1=RM4.14), the Ministry of Commerce said.

"The export of the real sector continued to soar, reflected by the 2.87 per cent expansion in export value excluding gold, oil, and weaponry,” it said in a statement.

Meanwhile, Thai imports increased by 21.99 per cent y-o-y to US$20.21 billion, resulting in a trade surplus of US$7.25 million.

"For the first two months of 2021, Thai exports contracted by 1.16 per cent to US$39.93 billion while imports rose by 6.77 per cent to US$40.12 billion, resulting in trade deficit of US$195.15 million,” it said.

The ministry said major industrial products, such as automobile, equipment, and parts, computers, equipment, and parts, electronic integrated circuits, steel and products, chemicals, and plastic resin showed signs of robust recovery in line with the revival of global manufacturing sector.

It noted that the pace of export recovery coincided with the latest upward revision of global economic outlook by the Organisation for Economic Cooperation and Development (OCED) to 5.6 per cent growth in 2021, up from the previous estimate of 4.2 per cent.

It said purchasing managers in many countries had a more optimistic view about the world economy, reflected by the Global Manufacturing Purchasing Managers’ Index being above 50 (53.9) for the eighth consecutive month and at a three-year high.

The Ministry of Commerce is targeting a four per cent export growth in 2021. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Aseanplus News

Delta COVID variant becoming globally dominant, WHO official says
Asean News Headlines as at 9pm on Friday (June 18)
Singapore sees first day rush for Sinovac vaccine; as 16 Covid-19 cases announced on Friday (June 18)
Indonesia reports highest number of daily Covid-19 cases since late January; 12, 990 cases on Friday (June 18)
Three million Chinese jabs heading to Thailand, says PM as Covid-19 cases continues to surge in country
Philippines Covid-19 cases total almost 1.35 million as govt allows more health workers are allowed to go abroad
U.N. chief Guterres appointed for second term
Ho Chih Minh City leads Vietnam's Covid-19 tally on Friday (June 18) with highest daily increase
UN Assembly to vote on resolution condemning Myanmar junta
Switzerland topples Singapore in IMD's world competitiveness ranking; first time in 33 years for the Swiss

Stories You'll Enjoy