Bangkok (NNT/VNA) – Thailand’s exportsector during the first two months of 2018 has reportedly grown by 13.8 percentfrom the same period last year, the highest rate in seven years.
The Trade Policy and Strategy Office (TPSO) of Thailandreported that February export value increased by 10.3 percent from the sameperiod last year to over 20.36 billion USD, marking the 12th straight month ofexpansion.
The country’s export value for the first two months of 2018totalled over 40.46 billion USD, expanding by a seven-year-high of 13.8 percentyear-on-year. All notable export segments reported gains, including autos,computers, palm oil, and cassava oil.
TPSO Director Pimchanok Vonkorpon said businesses shouldmonitor the effects of a stronger Thai baht, especially in the food andagriculture sector which only expanded by 0.3 percent during the two-monthperiod.
Rubber export value declined by 28.8 percent, while sugar contracted by 23.9percent. Therefore, exporters are advised to lock in prices in advance toreduce currency risks and expand insurance timelines from three months to six.
Meanwhile, Thailand’s February imports totalled over 19.5 billion USD,expanding by 16 percent due to higher fuel imports and more consumers shiftingto online retailers overseas. Overall, Thailand maintained a trade surplus of808 billion USD.-VNA
VNA