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Appreciation of baht not to hinder export growth

19
Mar '07
Thailand's exports may grow 12.5 percent to US $145 billion in 2007 as anticipated previously, despite strong appreciation of Thai baht against the US dollar.

Thai baht closed at Bt34.90 against the dollar on March 16, 2007 in comparison with Bt34.98 on March 15. Baht has reached its highest value in last nine years.

Speaking to reporters, Rachane Pojanasunthorn, Director General, Department of Export Promotion (DEP), informed that textiles, electronics and electrical appliances depend more than 50 percent on imported raw materials.

DEP discovered this after close monitoring of the baht. But manufacturers face little problems as these goods are exported afterwards.

Country is trying hard to enhance exports. With the purpose of raising gems, jewellery and ornamental goods export by 20 percent to $4.37 billion, Thailand will hold Bangkok Gems and Jewellery Fair in May.


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