Official target of Thailand's export growth set at about 8% in 2018

BANGKOK, August 22 (TNA) - The Ministry of Commerce has maintained its official target of Thailand's export growth in 2018 at about 8 per cent year-on-year on average. Sureeporn Sahawat, Deputy Director-General of the ministry's Trade Policy and Strategy Office (TPSO), told journalists of the decision on Wednesday, as Thai exports during the first seven months of this year exceeded 146 billion US dollars, a 10.57 per cent year-on-year increase and the highest rate in seven years. Besides, Thai exports last month alone stood at about 20.42 billion US dollars, a 8.27 per cent year-on-year increase and the steady growth for the 17th consecutive months. Sureeporn attributed the expanding Thai exports to the recovering world economy and more exports to new markets although the country's shipments of products to such major markets as Japan and the European Union (EU) have expanded by 5.4 per cent so far, despite a drop by 1.9 per cent of Thai exports to the United States, the first fall in 21 months. Sureeporn pointed out that Thailand's exports of such agricultural products as sugar and fresh and processed chicken have particularly expanded by 41 per cent and 14.1 per cent so far respectively, while Thai exports of industrial products have expanded by 7.7 per cent so far. According to the senior official, her ministry assessed that Thai exports should keep growing during the rest of this year in line with the recovering world economy despite such remaining short-term risk factors as the unstable foreign exchange rates and the ongoing trade war between the United States and major trading partners. The senior official stressed that her ministry has maintained the official target of Thailand's export growth in 2018 at about 8 per cent year-on-year, as the weakening Thai baht should boost the country's exports during the rest of this year, including those to new markets. The senior official revealed that Thailand has also gained a trade surplus of about 2.94 billion US dollars during the first seven months of this year, noting, however, that her ministry will review the officially-targeted figure of the country's export growth again at the next meeting of top Thai commercial envoys, set in October 2018. (TNA)