Thai exports on the rise

BANGKOK, June 26 (TNA) - Thai exports in May 2012 resumed its upward trend although the country's export values in such main markets as the United States, Europe and Japan did not recover, as the Ministry of Commerce has maintained the country's export growth target at 15 per cent this year. Thai Deputy Commerce Minister Poom Sarapol said on Monday that the total value of Thai exports last month expanded by 7.68 per cent year-on-year to over 20 billion US dollars, thanks to resumed production of local manufacturers damaged by floods late last year, especially those in the automobile, electronic and electrical industries. Poom acknowledged that exports from Thai agricultural and agro-industrial sectors dropped by 5 per cent year-on-year last month, as Thailand's shipments from the sectors to main markets, like the United States, Europe and Japan, did not rise significantly although exports tended to grow in minor and emerging markets, including China, India and Russia. According to the minister, the overall value of Thai exports had declined by 1.47 per cent year-on-year to 92 billion US dollars during the first five months of this year; while the overall value of Thai imports had amounted to over 100 billion US dollars, an 11.55 year-on-year increase during the same period, including those of machines to replace those damaged by floods, causing the country a trade deficit of some 9.80 billion US dollars. The deputy commerce minister assessed that the overall value of Thai exports should continue on its upward trend from this month onward, noting that Thai Prime Minister Yingluck Shinawatra will have a workshop with Thai exporters and concerned authorities on June 30. (TNA)