BoT: Thai exports to expand 5-7% from January

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BANGKOK, 28 Feb 2014  The Bank of Thailand expects the export sector to expand 5-7% this year regardless of the global trend of January slow start.

The comment was made by Dr. Rung Mallikamas, the BoT spokesperson, who said January’ exports showed a poorer-than-expected performance which is a normal global phenomenon during the beginning of the year where influencing factors are fluctuating heavily.

Dr. Rung said Thailand’s export this year would likely grow 5-7% despite the sluggish start in January, explaining that the month usually has a low export output. However, she pointed out that this year’s level of fluctuation is higher than those of the years earlier.

Nonetheless, she expressed optimism that the sector’s performance would improve in the months after January 2014.

The BoT Spokesperson also mentioned about the rising number of bouncing checks which has increased by 0.3% in January, saying the matter is worth taking note but has not yet posted any real threat at the moment.