Finance Ministry:Thai exports should grow 4.5% in 2012

BANGKOK, October 29 (TNA) - The Ministry of Finance has forecast that Thai exports should expand by 4.5 per cent this year, a figure close to that earlier foreseen by the Ministry of Commerce. Kulaya Tantitemit, a macro-economic specialist of the Ministry of Finance, told reporters of the projection on Monday, noting that Thailand's export growth momentum has appeared to begin since last month, after having been affected by the persistent European debt crisis. Kulaya acknowledged it is possible that expanding Thai exports in the last quarter of this year will boost the country's export growth to reach the targeted 4.5 per cent on average in 2012 although, to meet the official target, Thailand's total goods shipment to overseas markets is to exceed 20 billion US dollars monthly in the rest of this year, or is to soar by 14.7 per cent during the October-December 2012 period alone. The macro-economic specialist pointed out that a shrink in Thai exports in the last quarter of last year, due to a flooding crisis in the country, has become a very low base for Thailand's overall export growth this year to meet the official target, especially its year-on-year expansion in the last quarter of 2012, with India, Hong Kong, Australia and Africa remaining potential import markets for Thai exports in the rest of this year. The macro-economic specialist also said the overall Thai economy has kept expanding, warning, however, that there maintain risk factors for the national economy, namely persistent impacts from the eurozone debt crisis and those from results of the upcoming US presidential election in early 2013, both of which should then affect Thai exports and the overall national economy. (TNA)