Thai exports grew for ten consecutive months up to April

Thailand’s exports have increased for ten months in a row, with April’s worth about 857.7 billion baht, up 10.2% percent on March, reflecting the strength of Thai economy, according to Commerce Minister Pichai Naripthaphan today.

Excluding the exports of gold, strategic and oil-related goods, he said the increase in April over March was still 7.1%, mainly due to increased exports by the industrial and agricultural sectors.

He attributed the growth to the expansion of key export markets in the United States, China, Japan and ASEAN member countries, noting that exports to the US increased by 23.8% over a period of 19 consecutive months.

Pichai said that Thailand’s export growth for the whole year could still surpass 4%, even if growth over this year’s remaining months were to be zero.

The commerce minister added that, if Thailand can negotiate a tariff reduction with the US, down to the rates imposed on several other countries, he is confident that Thai products will be as competitive as those from other countries.

Meanwhile, Poonpong Naiyanapakorn, spokesman of the Commerce Ministry, disclosed that, during the first four months of this year, Thailand imported goods worth US$109.3 billion, an increase of 9.6% year on year, generating a trade deficit of US$2.2 billion.

Although Thai exports continue to grow for the first half of the year, he predicts that exports for the second half to US market are expected to be affected by increased tariffs.