Commerce Min targets 10% growth in auto export this year

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The Commerce Ministry is targeting a 10 percent growth in auto exports this year after seeing some positive signs in the first quarter.

Ms Nuntawan Sakuntanaga, Director General of the Department of International Trade Promotion (DITP), expects Thailand’s auto and auto part exports to expand by 10 percent, predicting the combined value to be around 33.7 billion US dollars this year, with 20.5 billion dollars coming from automobile exports and another 13 billion from auto parts.

Thailand in the first quarter of 2014 raked in a total of 4.7 billion dollars from automobile exports — an increase of 0.46 percent, and 3.1 billion dollars from auto part exports, a 7 percent rise year on year.

Ms Nuntawan said the ministry was determined to further push the industry forward with the ultimate goal of making Thailand an auto production hub of the ASEAN region.