Thailand's merchandise exports increased more than economists expected in January, helped by improvement in external demand as the global recovery gathered momentum, data released by the Ministry of Commerce showed Wednesday.
Export of goods increased 16.09 percent on an annual basis to $18.27 billion in January, which was faster than the 13.45 percent growth seen in December. Economists had forecast the rate of growth to stay broadly unchanged at the December levels.
At the same time, the value of imports advanced 40.87 percent year-on-year to $23.76 billion, after growing 4.67 percent in December. Economists had forecast an 18.7 percent gain.
The faster growth in imports compared to that of shipments resulted in the trade deficit widening to $5.49 billion from $2.37 billion in December. The latest figure was notably higher by $2.06 expected by economists.
Malaysia and Singapore, the other export-dependent economies in the region, recorded strong economic growth in the fourth quarter, driven by improved global demand that boosted exports.
For comments and feedback: editorial@rttnews.com