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

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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.

[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.

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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