Thailand is performing well in its international trade, as seen from a remarkable increase in exports recorded in 2010 and a healthy outlook for 2011.

According to the Director-General of the Department of Export Promotion, Mrs. Nuntawan Sakuntanag, Thai exports in 2010 are likely to expand by 24-25 percent, or 189-190 billion US dollars. For 2011, the Ministry of Commerce has set a target of export growth at 10 percent, or 207.9-209.6 billion dollars in value.

The target growth is based on the value of 30 baht per US dollar and a crude oil price of 76-77 dollars per barrel. The Ministry of Commerce will work closely with the private sector in pushing Thai exports this year. Small and medium-sized enterprises (SMEs) will receive greater attention in terms of capacity-building, market development, cluster network development, and financial support and risk management.

More emphasis will be placed on penetrating foreign markets that have high potential, such as ASEAN, China, India, and Russia. In addition, the Ministry of Commerce will attach great importance to developing and promoting value creation through creativity, innovation, branding, and environmentally friendly production.

Although Thai exports in 2011 are expected to increase steadily, there are several key risk factors. For instance, the appreciation of the baht, higher production costs because of higher oil prices, and an increase in interest rates would have an impact on Thailand’s international trade.

The Director-General of the Fiscal Policy Office, Mr. Naris Chaiyasoot said that Thailand’s GDP growth in 2010 would be 7.9 percent, compared to a contraction of 2.3 percent in 2009. The figure would exceed the set target of 7.5 percent because of strong exports. Inflation in 2010 is expected to stand at 3.3 percent.

Thailand has also seen an increase in the number of foreign investment