March 26, 2014 00:00 By Petchanet Pratruangkrai
Thailand's export value showed a 2.43 per cent growth rate on year in February, to reach US$18.36 billion, according to the Commerce Ministry.
Against the import value of $16.59 billion which showed a 16.62 per cent decline from the same period last year, Thailand locked in trade surplus of $1.76 billion in the month.
In the first two months, Thailand’s export value grew slightly by 0.2 per cent to $36.27 billion, while import value sank 16 per cent to $37.02 billion. The country showed trade deficit of $754 million in the period.
Last month, the agricultural export showed a drop by 5.7 per cent, but the merchandise export went up by 6.8 per cent year on year, mainly thanks to the increase in the shipment of jewellery and ornament, automobile and parts, electronic goods, and electrical appliances.
Among the agricultural products that showed a sharp drop in February were rubber (13.8 per cent), shrimp and frozen shrimp (26.9 per cent), sugar (43.8 per cent), frozen seafood (8.9 per cent), and frozen and processed chicken (3.8 per cent).
The imports last month dropped also because of lower gold imports, amid the renewed spike in the commodity price. Imports also slowed due to the weaker baht, compared to the same period last year.