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

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