Thai Nov exports up 13.4pc y/y, beat forecast

BANGKOK: Thailand's customs-cleared annual exports rose for a ninth straight month in November and handily beating expectations, as demand from major markets remained strong.

Exports, a key driver of Thailand's growth, increased 13.4 percent in November from a year earlier after rising 13.1 percent in October, commerce ministry data showed on Thursday.

That beat the median forecast of a 6.4 percent rise from economists polled by Reuters.

The exports were led by rubber, which surged 61 percent, while rice exports rose 50 percent.

Imports in November increased 13.7 percent from a year earlier, also more than the forecast of a 12.8 percent rise.

That resulted in a trade surplus of $1.76 billion in November, far above a forecast of $0.72 billion surplus.

In January-November, exports grew 10 percent, while imports rose 14.5 percent in the same period, Pimchanok Vonkhorporn, an official at the commerce ministry, said at a briefing.

The ministry is confident that exports will reach 10 percent for 2017 and next year could rise 6-7 percent, she said.

Last year, exports rose just 0.5 percent after three years of contraction.

Shipments have remained strong this year, despite the baht appreciating more than 9 percent against the dollar, the third-biggest gainer among Asian currencies.