Thailand’s exports for 2015 should experience a growth of 4%. This represents a significant improvement following a continued 2 year period of negative growth, the Commerce Ministry said.
Furthermore, it stated that it was confident that the EU’s ‘Quantitative Easing’ (QE) monetary policy will work in favor of the country’s export growth.
Nanthana Sakuntanak, the director-general of the ministry’s Department of International Trade Promotion, stated that the improved export figures for December 2014 was due to the growth in agricultural exports which grew by 0.8%.
One of the key products is the historic growth in rice exports of 1.4 million tons which is a 113% increase.
This was however offset by significant drop in rice prices of 18%.
Another strong performer is sugar exports which grew by 124% but again was offset by a 9.2% drop in prices.
Export of industrial products also experienced a 4.5% growth but overall the agricultural sector’s export figures fell by 2.5%.
For 2015, the Ministry Of Commerce was confident that the export growth of 4% could be met and this was due solely due to the promising outlook for Thailand as a result of the EU’s ‘Quantitative Easing’ monetary policy which will help the country’s exports tremendously.
It is expected that Thailand’s exports to the EU should grow by 3% which correlates with the growth in Purchase Order Index for January 2015.