Thailand: Sep 17 exports roar to record high

  • Exports rose for a seventh straight month in Sep 17, surging 12.2% y/y to a record-high USD21.8bn (THB722.4tr), as demand increased in all traditional and emerging markets, says Commerce Minister Apiradi Tantraporn.
  • She said exports to the traditional key markets of the US, Japan and EU rose by 5.7%, 10.3% and 2.1% y/y, while exports to the CLMV group climbed 13.9%, marking a fifth straight month of double-digit growth.
  • Exports to China leapt 12.1% and Asean shipments rose by 1%, while exports to South Asia shot up 34.6%.
  • Imports in Sep 17 grew by 9.7% to USD18.5bn, giving Thailand a trade surplus of USD3.4bn.
  • Key sectors whose exports rose substantially included rubber, sugar, chicken, gold, oil, computers and automotive, she said.
  • The Commerce Ministry forecasts continued export growth for the rest of 2017, citing the recovering economies of Japan, China and the US.
  • With exports surpassing 9% growth in Jan-Aug 17, Mrs Apiradi voiced confidence that shipments in the remaining months would grow by more than 8% to lift full-2017 export growth above the target of 7-8%.
  • The strengthening baht, which has weighed somewhat on exports over the past several months, is expected to subside on expectations that the Fed will raise interest rates again in 2017 and boost the US dollar.

External Link :