BANGKOK: The value of Thai exports dropped in November for the first time since October 2009 after floods hit industry, but the Commerce Ministry said exports could still be 15 percent higher in 2011 than last year and might rise another 15 percent in 2012.
One economist was less optimistic, forecasting export growth of just 5 percent next year.
The floods shut seven huge industrial estates in October and many factories have still not reopened. Imports also fell in November, and since many imported materials go into re-exported goods, that suggested weakness in exports would continue.
The slump in exports and industrial output supported the case for a further interest rate cut in January, economists said, although the central bank has said its easing might be temporary if confidence returned quickly and the economy picked up next year.
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