Thai exports in 2011 are anticipated to expand more than 15% compared to the previous estimate of 12-15%, following the global food crisis, according to Commerce Minister Pornthiva Nakasai.
Ms Pornthiva said the growth adjustment is due to a higher demand necessitated by the global food crisis, which has driven product prices up significantly. She expected that the Thai food exports this year would grow 11%, instead of 8% as estimated earlier.
Moreover, the minister has also instructed directors of Thailand’s international trade promotion offices worldwide to take offensive campaigns in penetrating foreign markets, especially China, India, Latin America and Russia, which have high potential and demand, in order to meet the growth target.
Regarding impacts from the twin natural disasters and nuclear power plant crisis in Japan, Ms Pornthiva said although Thai food exports to Japan received a windfall gain from the situation, effects from the contraction in other export groups such as auto parts, must still be assessed.