Thai exports expand 15% in October


BANGKOK, Nov 26 – Thai exports in October were valued at more than US$19 billion, a 15 per cent growth owing to high demand prior to the New Year festival.

Srirat Rastapana, director-general of the Department of International Trade Promotion said Thai exports grew in all markets.

Exports to mature markets increased 12.3 per cent, dynamic markets rose 14 per cent and emerging market 31.4 per cent.

Exports of industrial goods were up 24.3 per cent. Auto parts, construction materials and electronics were up 53.4 per cent, 74.5 per cent and 23 per cent respectively. While exports of textile and agriculture and agricultural and agro-industrial produces dropped 3.2 per cent and 9 per cent respectively.

Thai exports in the first ten months of this year were worth US$191 billion, up 0.34 per cent.

Imports in October 2012 valued US$21 billion, a 21 per cent increase. Imports of fuel rose 35.6 per cent and vehicles and transport equipment were up 70 per cent and auto parts and components rose 70 per cent and cars 75.5 per cent. Manufacturing and transportation sectors needed more fuel and the global oil prices increased.

Imports rose ahead of Christmas and New Year festival. Thai imports in the first ten months valued at US$206 billion, up 7.15 per cent. In October alone, Thailand posted a trade deficit of US$2.4 billion and for the first ten months, the country’s trade deficit was recorded at US$14.25 billion.

Commercial Attachés and agencies concerned from the state and private sector will meet on November 28-30 to set a direction and target for next year’s exports to push for the two-digit growth.

The ministry will work to penetrate new markets and autos, electronics and electric appliances are Thailand’s main export industries. It is projected exports in the last two months of this year  will grow at least 10 per cent and the whole year’s export growth is likely to stay around 4.5-5 per cent.