Thai exports have risen for six straight months, with export value for January increasing by 10%, to US$22.6 billion, while imports went up by 2.6%, to US$25.4 billion, resulting in a trade deficit of US$2.8 billion, according to Kirati Ratchano, permanent secretary of Commerce.

He said that January’s export growth was the highest in 19 months, adding that exports to Thailand’s main markets grew in line with global economic recovery, such as a 13.7% increase to the US market, a 4.5% increase to Europe, a 18.1% to the ASEAN market and a 16.6% increase to the CLMV group, comprising Cambodia, Laos, Myanmar and Vietnam.

Thai exports to secondary markets also grew, by 8.8%. These include a 0.04% increase to South Asian markets, a 27.2% increase to Australia, a 2.9% increase to Middle Eastern markets, a 4.0% increase to the Latin American market, but with a 1.6% export contraction to the UK market.

Exports to other markets, such as Switzerland, also increased by 11.2%.

Kirati said that Thai exports have a tendency to increase further, reflecting the easing of inflationary pressures, thanks to an increase in demand for electronic products, food and agricultural products.

He pointed out, however, that the war in the Middle East is posing an obstacle for transport, resulting in an upward adjustment in shipping costs and further fluctuations in exchange rates.

He said the Commerce Ministry is closely monitoring the situation, especially the possible change of financial policy, which may have an impact on Thai exports.