Home World News March exports set new high as global recovery boosts sentiment

March exports set new high as global recovery boosts sentiment

by qualityeducation
Thai-made Deestone tyres seen at a government-sponsored trade promotion fair at Impact Muang Thong Thani in December last year. Rubber products were the biggest growth area of exports in March. (Bangkok Post file photo)

Exports in March rose 8.47% year-on-year, hitting a monthly record high in dollar terms as economic stimulus in the United States and vaccine rollouts bolstered hopes for global recovery, the Commerce Ministery said on Friday.

The ministry said exports in March totalled US$24.22 billion,up 8.47% year-on-year. The figures were a recond high for Thai shipments in dollar terms, it said.

Exports also increased, up 19.8% from February.

Rubber products championed exports, leaping 109% over the same period last year and rising for six consecutive months. Other key drivers were cars, auto parts, plastic pellets, agricultural products and food, which continued their upward trend.

Imports in March were worth $23.5 billion, a 14.12% increase year-on-year, and up 16.33% from the previous month, the ministry said.

The ministry pointed to stimulus measures injected by the US administration to revive its economy and more vaccine distributions in countries around the world as key factors for the global economy to grow.

The International Monetary Fund had revised its projection for world economic growth, up one percentage point to 6%.

The ministry said Thailand’s main trading partners ordered more Thai products last month, with the exception of five Asean countries – Brunei, Indonesia, Malaysia, Singapore and the Philippines – whose purchases fell.

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