February 20, 2018 / 9:06 AM / 4 months ago

Thai January export growth seen speeding up to 11 percent year-on-year: Reuters poll

BANGKOK (Reuters) - Thailand’s customs-cleared annual exports in January likely grew at a faster pace than in the previous month, a Reuters poll showed, as global demand remains strong.

FILE PHOTO: Cargo ships are pictured near the port in Bangkok, Thailand, March 25, 2016. REUTERS/Athit Perawongmetha/File Photo

The poll’s median forecast was for exports, a key driver of Thai growth, to increase 11.05 percent in January from a year earlier.

In December, exports rose 8.6 percent from a year earlier.

The commerce ministry targets export growth of 8 percent this year after a 9.9 percent rise in 2017, despite a strong baht THB=TH, which is hovering near four-year highs.

January imports may have risen 15 percent from a year earlier after jumping 16.6 percent in December, the poll showed.

Thailand is expected to have recorded a trade surplus of $330 million in January, according to the poll, following a deficit of $278 million in December.

Reporting by Orathai Sriring and Chinthathip Nanthavong; Editing by Richard Borsuk

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