Thai exports in 2014 above IMF global figure

BANGKOK, January 26 (TNA) - The Ministry of Commerce reports that Thailand's exports in 2015, though contracted, was better than the US-based International Monetary Fund (IMF)'s projected figure of global export contraction at 11.7 per cent on average. Somkiat Triratpan, Director of the ministry’s Trade Policy and Strategy Office, told journalists of the information on Tuesday, saying that most importantly, Thailand was able to maintain market share in major trading partners last year, reflecting that the Kingdom’s competitiveness did not diminish. Somkiat insisted that his ministry will continue to explore global markets in line with the government’s policy and will export more major Thai industrial goods, including automobiles and parts. Somkiat noted that his ministry will maintain its target on Thailand's export growth this year at 5 per cent on the condition that world oil prices would not fall too much. According to the senior official, Thailand’s exports contracted 5.78 per cent last year, its lowest since 2009, due mainly to impacts from the global economic slowdown and dwindling world oil prices. The senior official pointed out that average global oil price last year tumbled by about 47 per cent, compared to 2014, and there are signs that world oil prices should continue to decline this year. The senior official acknowledged that Thailand's export value in 2015 totaled about 214.38 billion US dollars, with Thai exports of industrial goods declining by 4 per cent and agricultural products by 7.4 per cent, compared to those in 2014. (TNA)