20% export growth likely in 2008

 Tisco also noted that exports in the region suggest a deceleration in Thai exports over the rest of this year.

 Still, Tisco expected Thailand to register a 20 per cent export growth this year. Acting Commerce Minister Chaiya Sasomsab was ambitious to push the growth figure to 25 per cent.

 "Some Asian countries have reported weaker exports since June and this could imply a slowdown in export growth for Thailand in the second half of 2008," the securities house said.

In August, Thailand's export momentum decelerated  with an increase of just 14.9 per cent year on year while the growth rate of the first eight months was 24.5 per cent. Import growth also slowed to 26.9 per cent year on year compared with an average of 35.4 per cent on year in the 8-month period. Two consecutive monthly trade deficits and outflows from the capital market have put pressure on the baht, which depreciated by 2 per cent against the USD in August.

 Tisco noted that in the month, exports of auto-related and agricultural products remained strong while other technology products began slowing. Most

import items decelerated in August except for gold (+760 per cent), metals (+43 per cent) and agri-products.