Thailand's exports rose more than economists estimated in January as global recovery boosted demand, reducing pressure for further interest-rate cuts.
Overseas sales in January climbed 16.1% year-on-year to US$18.3 billion after climbing a previously reported 13. 5% in December, 2012, according to the Ministry of Commerce. The median estimate in a Bloomberg News survey of 17 economists was 13.4%.
Thailand joined neighbours Malaysia and Singapore in reporting stronger-than-estimated economic growth last quarter, adding to signs the region is rebounding from a global slowdown. The Bank of Thailand last week held its key interest rate for a third time and said it expected a gradual recovery in exports this year, resisting the governments calls for lower borrowing costs to cool the bahts gains.
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