Exports of goods and services for December 2010 were up 18.8 per cent on the same month last year to stand at 516 billion baht (US$17.37 billion), Commerce Minister Porntiva Nakasai said.
Thailand’s government has increased this year’s budget by 6 percent so it can spend more to buoy the economy, which Abhisit yesterday said should rebound in the second half.
Commerce Minister Pornthiva Nakasai on Tuesday revealed Thailand’s exports in December 2010 totaled US$17.37 billion in value, up 18.8 per cent from the same month the year before, bringing the exports for the whole year up by 28.1 per cent to $195.31 billion.
She attributed the sound export growth to an increase in shipments of almost all kinds of agricultural and industrial products thanks to the improvement of economies in the United States and Asia.
She said imports in December totaled $16.08 billion, up 11.5 per cent, raising imports for the whole year by 36.5 per cent to $182.41 billion.
The imports rose in almost all categories of products, particularly raw materials, capital goods, consumer products, and fuel.
It resulted in the country enjoying a trade surplus of $1.29 billion in December and $12.91 billion for the entire year of 2010.
Mrs Pornthiva said the ministry expected that exports for this year would grow by 10 per cent despite risk factors from the global economic slowdown, the stronger baht, the capital movement, and higher fuel prices.
With the increased demand for Thai products in the world market, successful efforts to penetrate new markets and maintain existing ones, and public and private cooperation to boost exports of all categories of products, the ministry believed that export growth for 2011 would be reached as targeted.
However, measures for the medium term that will enable Thailand to poise itself for higher and sustainable growth as the global economy recovers in the next few years are no less important. While coping and mitigating with the impact of the financial crisis in the short-run, it is equally important for all stake holders in Thailand to prepare for a recovery in global demand and ensure sustainable growth thereafter. The global economy is projected to recover over the next few years and, thereafter competition will intensify.
So far, two tranches of the TKK Program (2009-2012) worth Bt350 billion (US$10.5 billion) have been released, with the first tranche in the amount of Bt200 billion and the second tranche of Bt150 billion.
The focus of the TKK Program so far has been on quick disbursing investment projects as well as transfers and subsidies to local governments, communities, and farmers. A large share of the package is allocated to the agriculture and education sectors and community spending. Around two-thirds of the Bt350 billion or Bt230 billion is to be used for construction and equipment purchase, of which around three-quarters or Bt175 billion (1.9 percent of GDP) is expected to be disbursed in 2010, thus contributing to public investment.
Here is the original news:
Thailand to increase rice exports to 6 million tons this year
BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement
Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.
Cross-border trade is expected to grow up to 3-6%
BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.
Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.
According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.
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