Thai exports grow almost 8% in first half 2017

BANGKOK, July 21 (TNA) - The Ministry of Commerce reports that Thai exports expanded by almost 8 per cent year-on-year during the first half of this year, thanks to the recovering world economy. Pimchanok Wonkoporn, Director of the ministry's Trade Policy and Strategy Office (TPSO), told journalists on July 20 that Thai exports stood about 113.55 billion US dollars during the first half of 2017, a 7.8 per cent year-on-year increase from 2016. Pimchanok said Thai imports, on the other hand, stood about 106.58 billion US dollars, a 15 per cent year-on-year increase, resulting in the country's trade surplus of about 6.97 billion US dolalrs during the January-June 2017 period. Pimchanok noted that Thai exports in June 2017 alone exceeded 20 billion US dollars, a 11.7 per cent year-on-year increase in line with the rebounding global economy. According to the TPSO chief, Thai exports have been expanding in all major trading markets and in all categories, especially those in the agricultural and the ago-industrial sectors. The senior official pointed out that Thai exports of agricultural and agro-industrial products, including rice, rubber, sugar, as well as frozen and processed vegetables and fruits and seafood even grew as high as 18.3 per cent year-on-year in June alone and had steadily expanded for eight consecutive months, while Thai exports of industrial products had also steadily expanded for four consecutive months in June, including computer sets, rubber and plastic products. Despite the recovering world economy and more favorable global oil prices this year,the senior official cautioned that risk factors remain for Thai exports in the second half of this year, including trade protectionist measures of trading partners and unstable foreign exchange rates, which need to be closely monitored by all relevant agencies to cushion the national export growth to meet the official target of 5 per cent year-on-year on average in 2017. (TNA)