Thailand enjoys 10.3% export growth in Feb
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%.
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Pimchanok Vonkorpon, director-general of the Commerce Ministry's trade policy and strategy office, said the value of Thai exports increased 10.3% in February for 12 consecutive months to US$20.365 billion, whereas imports expanded by 16% which accounted for US$19.557 billion in value.
Trade surplus in February was recorded at 807 million dollars.
Thai exports in the first two months of 2018 rose to a 7-year high of 13.8%, with a combined value of 40.466 billion dollars, while imports were valued at US$39.778 billion, resulting in a trade surplus of US$688 million.
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.