Thailand gains trade surplus in first half of 2019

BANGKOK, July 22 (TNA) - Thailand has gained a trade surplus of nearly 4 billion US dollars during the first half of this year although the country's exports, like other several countries, have been affected by the persistent trade war between the immense Chinese and the US economies. Pimchanok Vonkorpon, Director-General of the Trade Policy and Strategy Office (TPSO), under the Ministry of Commerce, told journalists on Monday despite negative impacts from the ongoing US-China trade war, Thailand remained gaining a trade surplus of about 3.94 billion US dollars during this year's January-June period. Pimchanok said if Thailand's exports during the rest of this year reached 21 billion US dollars monthly on average, the country's exports could grow by 1-2 per cent year-on-year in 2019. Pimchanok mentioned that Thailand's export growth could grow by 3 per cent year-on-year, as earlier targeted, if the country's shipments of goods to the world market reached 22 billion US dollars monthly on average. The TPSO chief conceded, however, that Thailand's exports in the first half of 2019 contracted by 2.91 per cent year-on-year due mainly to the negative impacts from the US-China trade war and the appreciation of the Thai baht. According to the TPSO chief, new Commerce Minister Jurin Laksanavisit, who is also a deputy Thai prime minister, has ordered the setting of his ministry's joint public and private sector consultative committee to become a new platform where relevant government and private agencies can exchange ideas and opinions on how to boost the country's exports during the remaining of this year. The TPSO chief acknowledged, meanwhile, that Thailand has been less affected by the ongoing trade war between the United States and China, if compared with many other economies in the region, and there are rooms for expanding Thai exports in several foreign markets, thanks to the good image and quality of Thai products which can also become substituted goods to serve consumers in both the US and the Chinese markets. (TNA)