Robust exports since early this year increased the Kingdom's trade surplus to $4.5 billion in the first four months, compared with $1.07 billion in the same period last year. Export value reached $45.69 billion in the first four months, while imports rose 3.7 per cent to $41.17 billion.

The increased growth in exports prompted Commerce Minister Krirk-krai Jirapaet to reaffirm that Thailand would achieve growth of 12.5 per cent to $141 billion this year, despite the baht's appreciation.

"The continued rise in international trade is a key factor to drive the Kingdom's economic growth," he said, adding that exports in the first four months accounted for 31 per cent of the country's targeted exports this year.

Exports to China rose 28 per cent in the first four months, while there were significant increases in exports to South Korea (14 per cent), Hong Kong (7 per cent) and Singapore (10.7 per cent).

Despite the firmer baht, Thai exporters can maintain their export competitiveness, Krirk-krai said.

Karun Kittisataporn, the Commerce Ministry's permanent secretary, said the competitiveness of Thai exporters was improving because the baht had become more stable.

The baht has been rising against other countries in the region by an average of 1 to 3 per cent since early this year. It had strengthened by 15 per cent against other currencies last year before controls were imposed in December, said Karun.

He said the rise in China's yuan would benefit Thailand's export

competitiveness. In April, exports of agro-industrial products grew 28.8 per cent, agricultural goods rose 13.2 per cent and industrial goods increased 30.7 per cent.  Exports of most industrial goods increased more than 15 per cent, including electronic appliances, automobiles, construction materials and medical products.

Garment exports, which had fallen in March, increased by 7.6 per cent, thanks to the recently signed Japan-Thailand Economic Partnership Agreement.

However, gems and jewellery exports continued to drop, due mainly to the rise in gold prices. They slumped 32.3 per cent compared with the same period last year.

Thailand's trade surplus last month was $255.8 million. Import value grew 8.9 per cent to $10.61 billion.

Imports rose in all sectors. Capital goods rose 4.9 per cent, raw materials and semi-raw materials increased 21.9 per cent and consumer goods jumped 23.8 per cent.

Despite rising global oil prices, fuel imports decreased 15.6 per cent, thanks to the strengthening baht.

Petchanet Pratruangkrai

The Nation