Thai exports up 28pc in NovemberBy Bangkok Pundit Dec 21, 2010 7:02PM UTC
Thailand’s exports rose at the fastest pace in five months in November from a year earlier, government data showed on Monday, easing concerns about the outlook for its economy.
Helped by strong demand for rice, Thai shipments jumped 28.5 percent from the same period of 2009, to 17.69 billion dollars, the commerce ministry said.
It was the 13th consecutive monthly rise and the sharpest increase since a leap of 46.3 percent in June — the biggest on record.
Imports grew at an even faster pace last month, soaring 35.3 percent to 17.29 billion dollars on increased demand for fuel, the data showed.
The Bangkok Post:
Gold exports in particular soared by 216% year-on-year last month, followed by gems and jewellery at 89.7%, and rice at 53.1%.
Exports to fellow Asean members grew by 25.9%, to China by 20.9%, Japan by 25.1% and Hong Kong by 55.8%.
Strong growth was also seen in shipments to the Middle East (16.9%), Africa (46.3%), Latin America (74.1%), the US (19.9%) and Russia and the former Soviet states (123%).
BP: Not the first time that gold has risen and Thailand Crisis’ explanation last year probably still holds:
[NOTE : in order to avoid confusion : The Bank Of Thailand didn't sell its gold reserves. Its reserves are detailed here. The gold exports in february were caused by people, selling to goldshops, then to intermediaries, then outside Thailand]
BP: Given the high price locally for gold, it would not be surprising if a few people are not cashing in on the price and selling now particularly as the local economy is improving.
On the increase in rice exports, BP wonders what that will mean for farmers?