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    Exports up for first time in 4 years but trade deficit also at record high

    BANGKOK, 24 January 2017 (NNT) – The Ministry of Commerce has taken optimism from export figures in 2016, when growth returned for the first time in 4 years, believing 2017 will see 2.5-3.5 percent expansion in the sector.

    The Ministry of Commerce export report for December 2016 has shown value rose 6.2 percent year-on-year to 18 billion USD. Whole year value was 215 billion USD, 0.45 percent up from the year prior and the first growth seen in 4 years. It attributed the uptick to improving global trade combined with the oil price situation and rising farm goods prices. It also noted Thai exporters were quick to adapt to changing circumstances and maintained the attractiveness of their products.

    Thailand was the world’s 8th country for export growth in 2016 and ASEAN’s second with trade above the global average of -3.1.

    For imports, 2016 saw a downturn of 3.94 percent to 1.9 trillion USD with machinery, investment and raw materials the only imports to expand. Combined, Thailand had a trade deficit in 2016 of 20 billion USD, a record high.

    Nonetheless, the ministry believes exports will grow 2.5-3.5 percent this year to over 200 billion USD, noting that if its trade partners have a good year the figure could reach as high as 5 percent.

    http://nwnt.prd.go.th/CenterWeb/News....7eT7AaAS.dpuf

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    Thailand Balance of Trade 1991-2017 | Data | Chart | Calendar | Forecast
    Thailand posted a 0.94 USD billion trade surplus in December of 2016, compared to a 1.49 USD billion surplus a year earlier, as exports rose less than imports. Year-on-year, sales increased by 6.2 percent to 18.17 USD billion, following a 10.2 percent rise in the prior month. It was the second straight month of growth, as higher global oil prices helped lift demand from the country. Purchases went up 10.3 percent to 17.23 USD billion, compared to a 3.0 percent rise in a month earlier. In November 2016, trade surplus stood at 1.54 USD billion. Considering January to December 2016, exports grew by 0.45 percent compared to the same period a year earlier, ending three consecutive years of export contraction; while imports fell 3.9 percent. That brought the largest trade surplus on record of 20.7 USD billion during the year. Balance of Trade in Thailand averaged -28.39 USD Million from 1991 until 2016, reaching an all time high of 4990 USD Million in February of 2016 and a record low of -5906.41 USD Million in January of 2013.

    Thailand Balance of Trade | 1991-2017 | Data | Chart | Calendar | Forecast

    Backed up by :

    Bank of Thailand (Statistical Data)

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