Thai December exports best forecast, 2022 exports up 3-4%

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  • December exports +24.2% y/y; +17.1% in 2021
  • Exports have increased by 3% to 4% this year

BANGKOK, Jan 21 (Reuters) – Thai exports rose more than expected in December from a year earlier, with 2021 growth of 17.1%, the highest in 11 years, helped by stronger global demand. strong and a weak baht, said the Minister of Commerce. said Friday.

In December, exports rose 24.2% from a year earlier, beating forecasts of a 15.5% rise in a Reuters poll, and following November’s 24.7% increase.

Exports, a key driver of Thai growth, are expected to rise 3-4% in 2022 as strong global demand is expected to continue, Trade Minister Jurin Laksanawisit told a news conference.

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The baht currency should remain supportive and the container shortage should ease, Jurin said.

Thailand’s participation in the Regional Comprehensive Economic Partnership (RCEP) trade deal will also be a boost, he added.

However, risks to exports this year include the spread of the Omicron variant of the coronavirus and higher inflation in other countries, ministry officials said.

In December, exports to the United States increased by 36.5% compared to the previous year. Shipments to China were up 14% from a year earlier, while those to Southeast Asian countries were up 24%, according to ministry data.

Imports jumped 33.4% in December from a year earlier and rose 29.8% for 2021 as a whole.

The country recorded a trade deficit of $354 million in December but a trade surplus of $3.57 billion in 2021.

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Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty

Our standards: The Thomson Reuters Trust Principles.

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