February 27, 2017

January exports up 8.8% year-on-year

Shipping containers at Klong Toey port. (Reuters file photo)

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Customs-cleared exports rose for a third straight month in January, but by slightly less than expected.

Exports were up 8.8% in January from a year earlier, following December's 6.2% increase, Commerce Ministry data showed on Monday. A Reuters poll predicted a 9.85% increase for January.

The ministry has forecast export growth of 2.5%-3.5% this year, while the central bank projects shipments will be flat.

Imports in January increased 5.17% from a year earlier. Economists had expected a jump of 11.9%, after December's 10.3% rise.

The January trade numbers produced a trade surplus of $826 million, compared with December's $938 million surplus.

Thai exports, historically a key driver of Southeast Asia's second-largest economy, edged up 0.45% in 2016, ending three straight years of contraction.

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