Thai exports contracted in February

BANGKOK, March 22 (TNA) - Thai export value in February dropped for the first time in four months, down 2.8 per cent year-on-year, said the Commerce Ministry. Director-general of the ministry’s Trade Policy and Strategy Office, Pimchanok Wonkhorporn said that the country's exports in February was valued at 18.47 billion US dollars, showing a decline, compared to the high figures of the same period last year, driven by gold and aircraft-related products. If those items were not included for the exports in February, Thailand's export sector would see a growth as high as 8.5 per cent, indicating that the decline was caused by temporary factors. She gave a positive outlook that the Thai export is on the uphill climb in line with the recovering world economy, due mainly to the United States' improving economy whereas the Chinese economy is showing signs of expanding as much as last year. She said Thai exports to China have increased by 31.1 per cent, the highest pace in 4 years, while exports for farm and agro-industrial products grew by 13.9 per cent, on high demands for rubber, frozen and processed shrimp, and rice.(TNA)