BANGKOK – Thai exports have continued to show strong signs with the sector growing 5.69 percent between January and April, the highest rate of growth in 6 years.
Director of the Trade Policy and Strategy Office (TPSO) Pimchanok Wonkorporn reported Thai exports valued 16.864 billion USD in April, 8.49 percent greater than the same period last year. Total value over the first 4 months was 73.321 billion USD, 5.69 percent up on-year and the highest rate of increase in 6 years.
The strong figures were mostly due to a global economic recovery and Thailand’s policy of diversifying risk. By spreading out trade, the nation was both able to benefit from growth in China and ASEAN and to avoid downturns in other markets.
Imports in April were worth 16.808 billion USD, 13.4 percent up year-on-year. Trade balance in the month saw Thailand 56 million USD in surplus.
For the year, analysts see exports on an uptrend with clear indicators of recovery as fuel and farm goods prices rise. It is believed a growth rate of 5 percent will be met with the only major causes for concern political uncertainty and trade obstructions put up by the US.