BANGKOK: Thailand’s customs-cleared exports rose again in March from a year earlier, government data showed on Monday, contrary to market expectations of a contraction. Exports increased 1.3%, driven by gold, cars and machinery, customs data showed. That compares with the median forecast of a 4.6% drop in a Reuters poll. Shipments in March were worth UScopy9.125 billion while imports were at copy6.159 billion, for a trade suplus of $2.966 billion in the month.
Shipments to all major markets fell, including declines of 1.4% to the US and 5.4% to China. But exports to Southeast Asian countries rose 4.5% and those to Australia were up 3.5% from a year earlier. For the three-month period, Thailand shipped a total of $53.829 billion, up 0.9% from the same period of 2014. Imports during the period totalled $45.64 billion, down 11.99%. The country has a trade surplus of $8.189 billion.
On Thursday, Deputy Prime Minister Somkid Jatusripitak said March exports increased from a year earlier. In February, exports grew 10.27%, ending a 13 month-streak of declines, but the increase stemmed from two unusual items – military helicopters and a surge in gold shipments. Thai shipments, worth more than 60% of economic output, shrank the past three years and the central bank has forecast they will fall 2% this year.
