Thailand’s exports in February surged by 31 per cent year-on-year, amounting to nearly US$19 billion, hitting a record high, Commerce Minister Porntiva Nakasai said on Friday.

Owing to strong global demand and the overall growing global economy, February’s export expansion was registered in all key sectors, particularly agricultural and agro-industry production which increased by 32.8 per cent, while key industrial products rose by 29.9 per cent.

Ms Porntiva added that exports to major markets gradually rose by 27 per cent while those to secondary markets were up 19.3 per cent. Exports to Latin American, Australian and Russian markets moved up 6.6 per cent.

The country’s exports in the first two months of this year totalled around $35.6 billion, up 26.7 per cent compared to the same period last year.

Meanwhile, Thailand’s imports in February amounted to $17.1 billion, up 22.5 per cent from a year earlier. Imports increased in all categories, including growth in raw material production by 6.8 per cent, capital goods 31.8 per cent and energy products 64 per cent.

Imports in January and February were valued at $34.7 billion with an increase of 27.7 per cent, compared to the same period last year. The country’s trade surplus in February was recorded at $1.76 billion and $910 million in the first two months of 2011.

Currently, the Commerce Ministry projected 2011 exports to expand by 10 per cent with an approximate value of $215 billion.

Source : MCOT News

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