Thailand’s exports sustain growth momentum

Thailand’s exports sustain growth momentum (Photo: https://www.bangkokpost.com/)

Bangkok (VNA) – Thailand's exports in January climbed 8 percent year-on-year thanks to the global economic recovery, an easing of the container shortage, and promotions by local authorities.

The Thai Ministry of Commerce reported on March 2 that the country’s customs-cleared exports fetched 21.3 billion USD, with imports rising by 20.5 percent to 23.7 billion USD, resulting in a trade deficit of 2.52 billion USD.

Commerce Minister Jurin Laksanawisit said the economy is on course to recover as indicated by a continuous rise of the global manufacturing purchasing managers' index (PMI), which stood above 50 points for the 19th consecutive month.

The ministry still maintains its export growth target at 3-4 percent this year despite a host of risk factors such as rising oil prices from the escalating conflict between Russia and Ukraine.

After chairing a joint meeting between the ministry's senior officials and the private sector, Jurin said that the conflict in Ukraine has not had much impact yet on Thai trade.

According to Thailand's Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), growing concerns over the Russia-Ukraine tension may cause the country's economic growth to slow to 2.5 percent this year from the target of 3-4.5 percent set previously.

Last year, Thailand’s exports rose by 17.1 percent to 271 billion USD, while its imports surged by 29.8 percent to 268 billion USD./.