November 20, 2009
BANGKOK (AFP) - Thai exports in October fell 2.98 percent year-on-year as the sector picks up after being hit hard by the global economic downturn, the commerce ministry said Friday.
The figure was a big improvement on the 8.53 percent year-on-year fall in September, and Commerce Minister Pornthiva Nakasai said the figures would continue to improve.
"The ministry predicts that exports for the fourth quarter will increase by 3.0 to 5.0 percent and overall exports for this year will contract between 13.0 to 15.0 percent," Pornthiva said.
Total Thai exports for October reached 14.8 billion dollars.
Shipments to main markets including the United States and its five top Southeast Asian partners were down 8.8 percent, while those to new markets including Australia and China rose 3.2 percent.
Pornthiva said the ministry expected export revenue to continue to grow gradually as overseas economies recover in the wake of the global financial crisis.
Next year exports could expand by 10 to 15 percent, but the risk factors would be a strong Thai currency and oil prices, she added.
In October, Thailand enjoyed a trade surplus of 1.8 billion dollars as imports fell 17.5 percent year-on-year to 13.1 billion dollars.
The country's business groups have called for the Bank of Thailand to soften the baht against the weak dollar, to make Thai exports more competitive, as the Thai unit has risen 4.6 percent so far this year.
