ASEAN KEY DESTINATIONS
November exports peak
November shipments rose year-on-year in both US dollar and baht terms, with the dollar value increasing by 28.4 percent to US$17.7 billion.
In baht terms, exports were valued at 525 billion baht, up by 14.7 percent from November 2009. For the first 11 months of this year, shipments rose by 29.1 percent to $178 billion, while in baht terms they increased by 20.1 percent to 5.66 trillion baht.
Commerce Minister Porntiva Nakasai said November's exports were driven by both agricultural and agro-industrial products, especially gold, gems and jewellery, rice, rubber, electrical appliances, and autos and auto parts.
Gold exports in particular soared by 216 percent year-on-year last month, followed by gems and jewellery at 89.7 percent, and rice at 53.1 percent.
Exports to fellow Asean members grew by 25.9 percent, to China by 20.9 percent, Japan by 25.1 percent and Hong Kong by 55.8 percent.
Strong growth was also seen in shipments to the Middle East Africa Latin America, United States and Russia and the former Soviet states.
Exporters can raise prices in line with the baht's strength, said Mrs. Porntiva. She said small and medium-sized enterprises still need government assistance, but if the baht moves slowly exporters should be able to adjust.
"Shipments should rise by 27-28% to more than $190 billion for the full year if the value of December's shipments ranges from $16 billion to $17.5 billion, " she said. Meanwhile, imports rose by 35.3% year-on-year in November to $17.3 billion, or in baht terms by 21.1% to 519 billion.
Imports for the first 11 months totaled $166 billion, up by 39.3 percent year-on-year, or in the local currency 5.34 trillion baht, a rise of 29.8 percent.
Aat Pisanwanich, director of the Thai Chamber of Commerce's Center for International Trade Studies, said last month's surge in exports indicated Asian economies remain strong.
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