Export value jumps 8.8% in January as oil prices rise

Export value in January grew by 8.8 per cent to US$17.09 billion, after higher oil prices resulted in more revenue from oil by-products, according to the Commerce Ministry. The ministry on February 27 reported that the value of January imports rose by 5.17 per cent to $16.27 billion, resulting in a trade surplus of $826 million. With stronger export growth for three consecutive months, the ministry remains upbeat that full-year export value will grow by 5 per cent to $226.09 billion, its working target for this year. Pimchanok Vonkorpon, director-general of the Commerce Ministry’s Trade Policy and Strategy Office, said that as 22 per cent of Thai export value was from products made from petroleum, higher global oil prices were having a positive effect.

Keep reading