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Thai April exports rise 8.5 pct y/y, below forecast
May 22, 2017 / 7:20 AM / 4 months ago

Thai April exports rise 8.5 pct y/y, below forecast

    * April exports +8.5 pct y/y vs +11.3 pct in Reuters poll
    * April imports +13.4 pct y/y vs +17.0 pct seen in poll
    * Aril trade surplus $0.06 bln vs $0.3 bln surplus in poll
    * Jan-April exports +5.7 pct y/y, imports +14.5 pct y/y

    BANGKOK, May 22 (Reuters) - Thailand's customs-cleared
exports rose for a second month in April, though less than
expected, but the government is still confident of achieving its
export target for the year.
    Exports rose 8.5 percent in April from a year earlier after
March's 9.2 percent jump, commerce ministry data showed on
Monday. A Reuters poll expected an annual rise of 11.3 percent
in April.
    In January-April, exports rose 5.7 percent from a year
earlier, the highest annual growth rate in six year, Pimchanok
Vonkhorporn, an official at the Commerce Ministry, said at a
briefing.
    That makes the ministry confident of hitting its 5 percent
export growth this year, she said.
    Shipments, worth about two-thirds of Southeast Asia's
second-largest economy, rose a modest 0.45 percent in 2016, the
first annual gain in four years, according to the ministry.
    Imports in April rose 13.4 percent from a year earlier, 
compared with the forecast of a 17.0 percent increase and
March's 19.3 percent jump.
    The April trade numbers produced a trade surplus of only
$0.06 billion, compared with a poll forecast of $0.3 billion and
a $1.62 billion surplus in March.
    Many of the materials Thailand imports are assembled into
completed goods and shipped out again.
              
 (Percentage change from a year earlier, in dollar terms;
figures may not add up exactly due to rounding):
       
                            Apr      Mar      Feb      Jan
 Exports (pct y/y)          8.5      9.2     -2.8      8.8
 ($bln)                   16.86    20.89    18.47    17.10
                                                          
 Imports (pct y/y)         13.4     19.3     20.4     5.17
 ($bln)                   16.81    19.27    16.86    16.27
                                                          
 Trade balance ($bln)      0.06     1.62     1.61     0.83
 ($1 = 34.35 baht)

 (Reporting by Kitiphong Thaichareon; Writing by Orathai
Sriring; Editing by Sunil Nair)
  

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