Thai exports continue to rise in January

Trade forecast: An aerial view of the port of Bangkok. Exports, a key driver of Thai growth, are expected to rise 4% this year after a 6.01% contraction in 2020. — Reuters

BANGKOK: Thailand’s exports in January rose for a second straight month, climbing 0.35% from a year earlier, and should continue to grow this year as the global economy recovers, the commerce ministry said.

Exports, a key driver of Thai growth, are expected to rise 4% this year after a 6.01% contraction in 2020, ministry official Phusit Ratanakul Sereroengrit told a briefing.

Supporting factors include stimulus measures in several countries and vaccine distribution, he said, adding that shipment growth could reach double digits in the June quarter.

“Exports could grow by 3%-5% in the first half and by 3%-4% in the latter half, ” he said.

January’s exports, however, were short of the 1.85% rise forecast in a Reuters poll and slower than the 4.71% increase in December.

While shipments of cars and car parts, computers and rubber products increased last month, gold exports slumped 90.3% due to volatile gold prices.

Excluding gold, exports would have risen 6.27%, the ministry said.

Demand from key markets was mostly higher in January, with exports to the United States up 12.4% year-on-year, to China up 9.9% and to Japan up 7.4%. — Reuters

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

Next In Business News

Inta Bina bags RM106mil contract from Mitraland�
DBS, StanChart weigh bids as Citi retreats from Asia consumer business - sources
Kossan registers best-ever quarterly earnings�
Ajiya sees tough quarters ahead amid shortage of raw materials�
Oil hits US$68 on Libya force majeure, although pandemic surge weighs
FBM KLCI rebounds, gains 7.28 points
DBS, StanChart among potential bidders for Citi's Asia consumer business
Indonesia's central bank keeps interest rates steady
Petronas Gas allocates capex up to RM1.3bil in FY21
UK unemployment falls again under government's jobs shield

Stories You'll Enjoy