Exports rose 13.1% in October, outlook bright

Exports rose 13.1% in October, outlook bright

Exports in October rose 13.1% on an annual basis, raising hopes of ending out 2017 with growth of more than 8%, the highest in six years.

Exports last month were worth US$20.08 billion, against imports of $19.868 billion, an increase of 13.5% year-on-year, for a trade surplus of $214.4 million in October.

Pimchanok Vonkorpon, the director-general of the Trade Policy and Strategy Office, said exports over the first 10 months totalled $195.518 billion, up 9.7% on the same period in 2016. Imports during the period were $183.072 billion, for a registered trade surplus of $12.445 billion.

The ministry was now confident that overall exports for 2017 will exceed 8%, and possibly reach 9-10%, she said.

“If Thailand can ship $19-20 billion in each of the remaining two months, export growth for the whole year will reach 10%, the highest since 2011,” said Ms Pimchanok.

Exports had expanded for the last eight consecutive months. Her office saw this as an organic trend, as net growth after taking out gold and oil was still high, at 12.5% in October.

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