Export sees first positive growth since flood crisis

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BANGKOK, 29 March 2012  – Thailand’s export sector has seen the first positive growth in February 2012 following a continuous negative trend since November 2011 due to the flood. 

Deputy Commerce Minister Phum Saraphol has disclosed that export in February 2012 was worth 1.9 billion dollars, which is equivalent to a 0.91% growth from the same period last year. This is the first positive growth Thailand has seen in the past three months after suffering from the flood crisis, which occurred in November 2011.

Agro-products, including cassava, frozen seafood (excluding shrimps), chicken meat and sugar, account for the majority of the total export figure. Additionally, the auto-parts industry also grew by 15%. However, the export figure in the electrics and electronics product group is still quite low.

Export activities to major markets, such as the European and Japanese, still face a decrease of 5.3% whereas export to the USA is recovering at a 4% growth rate. Meanwhile, export to minor markets, such as ASEAN and China, is growing by 2.6%.

The Commerce Minister is confident that from now on the country will be seeing a continuous growth trend in its export sector. Thus, the ministry has maintained this year’s target at 15% as previously estimated. However, factors such as the baht value, fuel price and global economy must be closely monitored.