Thai April exports up 24.6 pct y/y
* April exports +24.6 pct y/y vs +27.5 pct in Reuters poll
* Imports +27.9 pct y/y vs +24.8 pct in Reuters poll
* Trade deficit $0.80 bln vs +$0.40 bln in Reuters poll
BANGKOK, May 20 (Reuters) -
Thai customs-cleared trade data from the Commerce Ministry.
(Percentage change from a year earlier; figures may not add up exactly due to rounding): Apr Mar Feb Jan Dec Nov Oct Sep Exports Pct 24.6 30.9 31.0 22.3 18.8 28.5 15.7 21.2 ($ bln)17.56 21.26 18.87 16.75 17.37 17.70 17.13 18.06 Imports Pct 27.9 28.4 22.5 33.3 11.5 35.3 13.5 16.0 ($ bln)18.36 19.47 17.10 17.60 16.08 17.29 14.81 15.00 Trade Balance ($ bln)-0.80 +1.79 +1.77 -0.86 +1.29 +0.41 +2.32 +3.07
CONTEXT:
- Shipments to Japan slowed in March due to the disruption caused by the massive earthquake there and will continue to be affected in coming months.
- Exports to Japan rose 23.6 percent in March from a year earlier after a 36.8 percent rise in February. China was Thailand's biggest export market in March, with Japan and the euro zone tied for second place.
- Major Thai exports to Japan include cars and car parts, electronics and machinery. Japan is also Thailand's biggest source of imports, accounting for about a fifth of the total.
- Some Thai officials say the quake will have only a short-term impact on trade. Toyota Motor Corp's Thai unit, for example, has said its operations would be back to normal from May 23, after it cut output following the earthquake.[ID:nL3E7FM0GR].
- The Commerce Ministry has said exports could grow 15 percent this year while the Bank of Thailand last month raised its export growth forecast to 20.4 percent from 11-14 percent, saying advance orders were still strong.
- The central bank is widely expected to lift its benchmark interest rate, the one-day repurchase rate , by 25 basis points to 3.0 percent at its next meeting on June 1; it would be its seventh rise in this cycle, which began in July 2010 from a record low of 1.25 percent. [ID:nL3E7FK1PF].
LINKS:
For details, see Commerce Ministry website: here#
For Reuters poll [ID:nL3E7GA24L].
($1=30.21 baht) (Reporting by Boontiwa Wichakul; Writing by Orathai Sriring; Editing by Alan Raybould)
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