Exports suffer contraction in February

BANGKOK, March 26 (TNA) -- Thailand’s exports suffered contraction for the 14th consecutive month at 2 per cent in February, said Deputy Commerce Minister Suvit Maesincee. Exports in February totaled 18.99 billion US dollars while imports totaled 14.01 billion US dollars, said Mr Suvit. Exports during the first two months this year totaled 34.71 billion US dollars, up 0.67 per cent year-on-year while imports totaled 29.48 billion US dolalrs. The country during the first two months this year enjoyed trade surplus at 5.22 million US dollars. Mr Suvit said the decline in exports was attributed to sluggish global economy and oil prices which remained low. However, Thailand was still one of the five countries in the world which suffered least exports. Despite the not so bright global economy, the Commerce Ministry has maintained Thailand’s exports to turnaround to 5 per cent growth in 2016. (TNA)