Exports continue to drive Thai economy

BANGKOK: Continuing strong exports have led Thailand's Ministry of Finance to raise its economic performance forecast for the year 2007.
 
Thailand's economy is projected to grow by 4.5 per cent in the year 2007, revised upward from the earlier estimated 3.8-4.3 per cent, with a stronger performance of 4.5 to 5.5 per cent expected in 2008.
 
The Fiscal Policy Office Director General Pannee Sathavarodom credited high exports as the main reason for the improved performance.
 
In month of October the performance of export sector was 26 per cent higher than last year for a record USD 14.5 billion, according to the Ministry of Commerce.
 
At present exports comprise almost 60 per cent of the Thai economy.
 
Despite poor economic performance during the past year, the Thai economy is expected to improve following the first post-coup election scheduled for December 23.