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Thai exports seen up 4% this year on rising global demand - government


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Thai exports seen up 4% this year on rising global demand - government

 

2021-01-22T062047Z_1_LYNXMPEH0L0B0_RTROPTP_4_THAILAND-ECONOMY-TRADEFIGURES.JPG

FILE PHOTO: Shipping containers stand at a port in Bangkok, Thailand, March 25, 2016. REUTERS/Athit Perawongmetha/File Photo

 

BANGKOK (Reuters) - Thailand's exports are expected to rise 4% in 2021 after declining 6% last year, while an unexpected increase in shipments was recorded in December as demand from major markets improved, the commerce ministry said on Friday.

 

Exports, a key driver of Thai growth, will this year be supported by a recovery in global demand, vaccine distribution and stimulus measures in several countries, the ministry said in a statement.

 

Shipments rose for the first time in eight months in December, up 4.71% from a year earlier, the fastest growth rate in 22 months, the ministry said. A Reuters poll forecast a fall of 2.4% in exports.

 

"The December exports showed a good sign," ministry official Pimchanok Vonkorpon told a briefing, adding shipments of durable goods rose and global demand increased, which reflected a recovery in the real economic sector.

 

The export gains were helped by higher shipments of cars and car parts, computers and rubber products. Excluding gold, exports would rise 5.04% in December.

 

Demand from key markets was mostly higher, with exports to the United States up 15.7% year-on-year and to China up 7.2%.

 

However, exports may not rise much in the first quarter because of last year's comparative base but should show a good recovery for the full year, Pimchanok said.

 

Imports in December increased 3.62% from a year earlier, but slumped 12.39% in the whole of 2020.

 

Thailand had a trade surplus of $960 million in December and $24.5 billion in the full year.

 

(Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty)

 

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-- © Copyright Reuters 2021-01-22
 
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