Thai May exports rise 11.4 pct y-o-y, beat forecast

[BANGKOK] Thailand's customs-cleared annual exports rose at a faster pace in May from the previous month, and more than forecast, commerce ministry data showed on Thursday.

Exports, a key driver of Thai growth, rose 11.44 per cent in May from a year earlier after jumping 12.34 per cent in April,

That beat the median forecast of an increase of 9.8 per cent in a Reuters poll.

The export gains were led by higher shipments of cars and parts, computers and accessories, rubber products and plastic pellets, the ministry said.

In May, imports rose 11.72 per cent year-on-year after surging 20.36 per cent in April. The poll forecast was for a 14.95 per cent rise.

That resulted in a trade surplus of US$1.20 billion in May, compared with a forecast of a US$40 million surplus, and against April's US$1.28 billion deficit.

In January-May, exports rose 11.55 per cent from a year earlier while imports jumped 16.60 per cent.

The ministry is confident of achieving its export growth target of 8 per cent this year, an official said, after a 9.9 per cent jump last year.

REUTERS