BANGKOK, 18 May 2011 – The Department of Export Promotion (DEP) has foreseen a positive outlook for the export to the European Union (EU) region, given it grew as much as 26% in the first quarter this year.
According to DEP Director-General Nuntawan Sakuntanaga, the EU economy is improving conducive to its increase in exports although the financial situation remains worrying to a certain extent because investment risks in some member nations are still high.
The Gross Domestic Product (GDP) of the region, however, could grow by 1.5% thanks to the gradually increasing internal and external demands owing to the block’s economic recovery, especially by the UK whose GDP might expand by 2% this year.
Thailand has set a target of at least 10% in export growth to the 15 EU nations, worth altogether 20.177 billion US dollars, this year. Exports to the region in the first quarter of this year, from January to March, rose by 24%; with a combined value of 5.612 million US dollars.
The top three exported goods are computer and parts worth 668 million US dollars, down by11%; followed by jewellery and accessories with 433 million US dollars, up 26%. Para rubber was third with 431 million US dollars, expanding by 132%.