Bangkok / DPA
Thailand’s exports in February swung back to positive territory for the first time in 14 months, with a value of US$18.99 billion (670.37 billion baht) — 10.27 per cent higher than in the same period last year — the Commerce Ministry said.
However, the increase was irregularly large due to significant exports of gold and military-drill equipment, neither of which strictly benefits the economy or trading.
Excluding oil and gold, February exports grew by 2.4 per cent, year on year.
Following the rise in gold prices last month, gold exports increased strongly year on year to $1.89 billion. Exports of military-drill equipment were worth about $683 million.
If these two products, along with the export of oil, were excluded from the February figures, Thai shipments would still be in negative territory – some 2 per cent lower than in the same month last year — as exports of both agricultural products and industrial goods continued to decline.
Deputy Commerce Minister Suvit Maesincee said yesterday that exports looked set to be back in positive territory for the remainder of the year, due to the brighter outlook for global trading.