Bangkok – The Ministry of Commerce says the global economic recovery contributed to February’s export growth of 10.3% while maintaining this year’s export growth target at 8%.
Pimchanok Vonkorpon, director-general of the Commerce Ministry’s trade policy and strategy office, said the value of Thai exports has increased for 12 consecutive months to 20.365 billion US dollars in February, whereas imports expanded by 16% which accounted for 19.557 billion dollars in value. Trade surplus in February was recorded at 808 million dollars.
Thai exports in the first two months of 2018 rose to a 7-year high of 13.8% growth, with a combined value of 40.466 billion dollars, while imports were valued at 39.778 billion dollars, resulting in a trade surplus of 688 million dollars.
The US, the European Union, and Asian countries remain Thailand’s major trade partners, according to Pimchanok.
Due to these positive signs and the rising price of crude oil on the global market, which is causing a price hike in Thai agricultural products, the ministry forecasts this year’s export growth at no less than 8% as previously anticipated.
