BANGKOK, 28 June 2012 – The Commerce Minister has reiterated his full support for the export sector in the face of the European financial crisis, while announcing May’s export growth at 7.7%.
Commerce Minister Boonsong Teriyapirom has reported that although Thailand’s five-month export figure has shrunk to 1.4%, export in May alone rose to 7.7%, indicating a positive trend for the sector. The growth has been contributed by the full recovery of production capacity of such industries as automobile, auto-parts and electronic parts. Meanwhile, the gems and jewelry sector’s export in May saw a slight improvement after having experienced a negative growth during the past 4-5 months, given its dependence on the European markets.
Mr. Boonsong has insisted that the ministry is keeping a close eye on the financial crisis of Europe, while also exploring alternative markets, such as Asia or Eastern Europe, both of which also possess high purchasing power. Additionally, the ministry will reinforce the potential of exporters by providing tax incentives, which is currently pending consideration from the Finance Ministry, in order to assist the export sector.