Thailand's export growth likely to reach two digits in 2017

BANGKOK, December 22 (TNA) - The Thai Ministry of Commerce says it is now likely that the country's export growth should stand at least 8-10 per cent year-on-year in 2017, thanks to the expanding world trade in line with the recovering world economy. Pimchanok Vonkorpon, Director-General of the ministry's Trade Policy and Strategy Office (TPSO), told journalists of the updated prospect on December 21, indicating she, herself, believed that Thailand's export growth this year should stand at least 10 per cent year-on-year on average. Pimchanok assessed if Thai exports could reach 19 billion US dollars this month alone, the country's exports should grow by up to 15.15 per cent year-on-year on average, the highest level since 2011, totally worth about 236.93 billion US dollars. Pimchanok reasoned that Thai exports had expanded by 10.01 per cent year-on-year during the first 11 months of this year, totally worth 216.95 billion US dollars, with the country's shipments of goods to foreign markets last month alone recorded at about 21.44 billion US dollars, a 13.4 per cent year-on-year growth and the highest in six years. The senior official acknowledged that Thai exports grew in all importing markets last month, particularly in major markets, with the country's exports to overall Asian countries, China, the United States and Europe expanding by 41.8 per cent year-on-year, 16.9 per cent year-on-year, 10.7 per cent year-on-year and 5.3 per cent year-on-year respectively. The senior official noted that last month's Thai exports of major commodities increased in both their volumes and values, including rice, rubber, tapioca, as well as frozen and processed chicken. According to the senior official, exports of Thai rice should total 10-11 million tons in 2017, as exports of Thai grains during the first 11 months of this year reached nearly 10 million tons, 1.5 million tons of which were exported to trading partners last month, the highest record level, while Thai exports of industrial products during the first 11 months stood at about 216.95 billion US dollars, a 10.01 per cent year-on-year expansion. The TPSO chief revealed that Thailand had enjoyed a trade surplus of about 14.21 billion US dollars during the first 11 months of this year, about 1.76 billion US dollars of which were the country's trade surplus last month alone. The TPSO chief forecast that Thai exports should reached about 250 billion US dollars in 2018, a 6-6.5 per cent year-on-year increase, based on the assumptions that the country's gross domestic product (GDP) should further grow by 4 per cent year-on-year, the Thai currency should hover around 33-35 baht a US dollar and world oil prices should stand at 50-60 dollars a barrel. (TNA)