Exports seen higher by 20 pct this year

[elef]

Bangkok Post

19-08-2008

Link

 

Exports seen higher by 20 pct this year

 

Exports are likely to grow more than 20 per cent for this year -- if the better-than-expected increase in the first half of 2008 continues to gain momentum, according to the Export-Import Bank of Thailand (Exim Bank).

 

 

Exim Bank's Economic Information Department reported that exports surged by 23.1 per cent to US$87.21 billion in the first half of this year and are expected to grow over 12.5 per cent as earlier targeted by the Commerce Ministry for the whole year.

 

 

The value of exports to new markets continued to grow and gain momentum with a portion of the shipment increasing to 48 per cent in the first half of 2008 from 37 per cent in 2003.

 

 

Also, the export value in the new markets surged 31.1 per cent in the first half of the year.

 

 

In particular, the exports to Africa soared 60.5 per cent, slightly higher than Indochina at 57 per cent, and Eastern Europe, which rose by 31.8 per cent.

 

 

Key export items include cement, books and printings, paper and products, chemical products, precious stones and ornaments, cassavas, electronic products, rice, textiles, and electrical appliances.

 

 

The department attributed the continued export growth to exporters' ability to adjust themselves timely to a change in world trade rules and regulations and their competence in creating the value-added for products.

 

 

In addition, Thailand still retained its status as a key production base for multi-national entrepreneurs since its labourers are skillful and there is a strong industrial production base for parts and raw materials.

 

 

A considerable hike in export product prices had also contributed greatly to a hefty increase in the export value in the first half of the year.

 

 

The department forecast that exports in 2009 would be volatile since the global economy remains fragile.

 

 

In particularly, the economies of the United States, European Union and Japan would continue their slowdown together with major inflation rises.

 

 

At the same time, the baht is likely to turn stronger if the US economy enters into a recession and the greenback continues weakening.

 

 

However, exports will continue to grow satisfactorily if exporters managed to develop production quality to meet international standards, enhance production efficiency, and continue to expand new markets. (TNA)

 

 

[chelseafan]

Lets face it, the actual quantity of exports probably hasn't moved that much, its the fact that commodities like rice have gone through the roof in terms of value

 

Hope the Thai's aren't kidding themselves too much....