Thai June export growth seen slowing, output to rise: poll

[BANGKOK] Thailand's customs-cleared annual exports likely rose for a fourth straight month in June but at a slower pace, a Reuters poll found, underpinned by the global economic recovery and stronger demand for commodities.

Exports, a key driver of Thailand's growth, were forecast to grow 7.85 per cent in June from a year earlier after May's 12.7 per cent rise, according to the median forecast of 10 analysts.

Thai shipments are just recovering after years of weakness. The commerce ministry expects exports to rise 5 per cent in 2017, despite the baht appreciating 6.5 per cent against the US dollar this year, the most in South-east Asia. Exports grew 0.5 per cent last year after three years of contraction.

Imports in June likely rose 11.2 per cent from a year earlier after May's 18.3 per cent gain, the poll showed.

Thailand trade surplus was expected to rise to US$1.32 billion in June, according to the poll, after May's US$0.94 billion surplus.

The poll showed Thailand's manufacturing production index probably rose for a second straight month in June, up 1.2 per cent from a year, after May's 1.4 per cent increase.

REUTERS