InfoAnda - Thai exports robust despite strong baht

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Thai exports robust despite strong baht AFP - Tuesday, September 21 Send IM Story Print Thai exports robust despite strong baht Slideshow: Full Photo Coverage: Business & Economy BANGKOK (AFP) - – Thailand's exports rose for a 10th straight month in August from a year earlier despite a surge in the value of its currency, the baht, official data showed on Monday. Helped by solid demand for auto parts and electronics, Thai shipments overseas increased 23.9 percent from the same period of 2009 to 16.45 billion dollars, the commerce ministry said. Imports rose 41.1 percent to 15.81 billion dollars. As a result, the country posted a trade surplus of 642.8 million dollars, against a deficit of 939.8 million dollars in July, when exports had risen 20.6 percent. The strong performance came despite the appreciation of the baht, along with other Asian currencies, against the US dollar, which threatens to undermine the competitiveness of Thai exporters and reduce their overseas earnings. Strong foreign demand helped the Thai economy to grow 9.1 percent year-on-year in the second quarter of 2010, despite the impact of mass protests in Bangkok in April and May that damaged the vital tourism sector. The central bank last month raised interest rates for a second consecutive month -- to 1.75 percent -- to keep a lid on inflation after an unexpectedly strong performance by the Thai economy despite the unrest. The mass rally, which brought parts of the capital to a standstill and forced some hotels and shopping centres to close temporarily, sparked violence that left 91 people dead, ending in a bloody army crackdown. Commerce Minister Porntiva Nakasai said exports were on track to meet the government's target of 20 percent growth this year and the baht's appreciation in the last two months had not yet affected shipments. The Bank of Thailand proposed measures last Friday to curb the strength of the baht, which hit a 13-year high against the dollar this month, including increasing limits on investment and lending abroad by firms and individuals. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - Tuesday, September 21 Homebuilder sentiment stays in doldrums Reuters - Tuesday, September 21 WTO sees record trade growth of 13.5 pct this year Reuters - Tuesday, September 21 Verizon names new COO, likely CEO successor Reuters - Tuesday, September 21 Turkish shares hit record high; bonds, lira gain Reuters - Tuesday, September 21 News Search Top Stories Pakistan make 265-7 against England in cricket ODI Zuma tries to stamp out worries over leadership US exits longest recession since World War II Basque separatist warns of IRA-type split within ETA OECD downgrades US growth forecast More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Cancer: New gene clues point to women's 'silent killers' Australia warns of C.Games terror attack 'risk' BP's broken well in Gulf of Mexico is 'dead' Lindsay Lohan fails drug test, faces jail again Sunderland deny Arsenal win in Premier League More Most Viewed » Climate: New study slashes estimate of icecap loss US pastor puts Koran-burning on hold 'Time bomb' superbug requires global response: doctor Japanese rider Tomizawa dies in San Marino Moto2 GP Vitamin B 'could delay Alzheimer's onset' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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