August 22, 2007	Wednesday	Sha’aban 8, 1428

BANGKOK, Aug 21: Thai exports rose 5.9 per cent year-on-year in July, a sharp drop from 18.6 per cent in the first half, due to the strong Thai baht and a slowing US economy, the commerce ministry said on Tuesday.

Exports totalled $11.81 billion last month as shipments to the US — Thailand’s largest trading partner — dropped by 13.6 per cent from the same period of 2006, Commerce Minister Krirk-Krai Jirapaet said. Imports, meanwhile, rose by about 2.4 per cent year-on-year to $11.59 billion, putting the July trade surplus at $211 million.

“Exports started to decline because the baht continued its rise, meaning Thai exporters earn less when they convert their foreign-currency income into baht,” Krirk-Krai told reporters.

“Also, the economic slowdown in the US has resulted in decreased shipments to the States,” he added.

He said Thailand’s total exports in the first seven months of 2007 added up to $83.4 billion, up 16.6 per cent on the same period last year, while imports were up 5.1 per cent to almost $77.7 billion.—AFP