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Published on October 22, 2007

Official figures will be announced later.

Judging from the import figures of its trade partners, Thailand's exports were expected to grow 10 per cent in US-dollar terms last month, said the office's weekly economic report.

The report pointed out that China's imports expanded 16.1 per cent, down from 20 per cent in August. Imports by South Korea also decelerated, growing 7.7 per cent after a growth rate of 9.8 per cent in August.

The stronger baht has had an adverse effect on exports of farm products and processed farm products.

The office predicts exports of electronics, autos and parts and tapioca will show high growth rates. Officials expect exports to grow about 10 per cent for the rest of the year, full-year export growth is projected at 12.5 per cent, and imports last month are expected to show 5-per-cent growth. Last month's imports of capital goods are expected to show growth of 8 per cent, up from August's 7.1 per cent, indicating signs of an investment recovery.

Meanwhile, the Finance Ministry tomorrow will report to the Cabinet on progress in loan negotiations with Chinese government-owned banks.

Among them, the Export-Import Bank of China is interested in lending about US$400 million (Bt13.67 billion) to finance mass-transit projects. The interest rate is about 3 per cent, and the loan term is up to 15 years, with a grace period of three years.

However, Chinese banks have demanded Thailand import Chinese goods and award projects to Chinese construction firms.

The Finance Ministry is also awaiting word on loans from the Japan Bank for International Cooperation. It will wait until the end of the month.

Wichit Chaitrong

 The Nation