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July 23, 2007

Shipments grow in H1 despite baht rise
The country's exports in the first half of this year continued to grow at least 18% on average although the sector had been affected the baht appreciation, according to unofficial figures released by the Commerce Ministry.

An informed source said the ministry was confident the exports for the whole year would grow at least 12.5% to US$145.96 billion as targeted earlier based on the baht staying at around 35.5 to the US dollar.

Although revenues earned by exports in baht terms would decline due to the rise of the baht, those earned in US dollar denominations remained high.

The trade balance is expected to enjoy a surplus of US$6-7 billion or Bt340-350 billion for all of this year.

The figure showed that exports in the first five months of 2007 grew 18.8% to US$58.75 billion.

To ensure the export target for the whole year is met, the exports for the remaining seven months of this year must grow 8.6% to US$87.21 billion or US$12.46 billion per month.

The source said Commerce Minister Krirkkrai Jirapaet would reveal the official data on exports for June and the first half of this year on July 23 or 24. TNA


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