Thai exports soar,leaping 8％ in 2017

By APD Writer Chen Jiabao

BANGKOK,Oct.21 (APD) -- Thai exports value in September have roared to a new record in most product categories and major markets, the full-year export could beat the previous forecast at 8%, according to Commerce Ministry.

Exports, a key driver of Thailand's growth, climbed 12.2% in September with a total value of

21.8 billion U.S. dollars ,Commerce Minister Apiradi Tantraporn said, adding that exports rose to a seventh month straightly.

Export of agricultural products and manufacturing products increased 7.9% YOY and 12.5% YOY, respectively. Key sectors whose exports rose substantially included rubber, sugar, chicken, gold, oil, computers and automotive, according to the minister.

Growth was driven by growing demand for Thai manufacturing products from Thailand’s major trade partners especially China and Japan. Apriradi also credited the surge for an improvement in the global economy and the rising prices of commodity and oil.

Overall, Thai exports during the first nine months of this year grew 9.6% YOY, hitting a six-year record high.

"If we continue to export at about 19 billion U.S dollars a month during the rest of this year, exports for the whole of 2017 should grow at least 8% or 8.5%, since we expect strong demand during the year-end period”, said the minister who also warned potential risks from fluctuating values of currencies.

China tops Thailand’s largest trading partner.

According to data from Thai customs, Thailand’s exports to China amounted to 23.6 billion U.S. dollars or 11% of its overall exports in 2016. Rubber and electronic equipment held the top shares.

(ASIA PACIFIC DAILY)