Thailand recorded a trade deficit of 8.1 billion US dollars in the first half of this year, said the Commerce Minister Thanong Bidaya, predicting the situation to be improved in the second half with growing exports.

Imports in June reached a record high of 11.15 billion US dollars, up 37.2 percent from the period of last year, the state- run Thai News Agency (TNA) Thursday quoted the minister as saying.

Imports of the first six months of this year also grew by a high 32 percent to reach 59.98 billion US dollars, while exports up 12.9 percent to 51.83 billion dollars over the same period.

Among all products, imports of raw materials including fuel and steel have risen fast in the first half of this year, said Thanong.

Oil imports increased some 104.4 percent in June, while steel imports soared 81 percent in the same month.

However, Thanong predicted the kingdom's trade would register surplus in the second half of this year with strong control over imports.

He predicted that exports would top 65.4 billion US dollars in the second half, while imports would be around 59.1 billion.

Therefore, in the second half, the country would log a 6.3 billion-dollar trade surplus and the whole year trade deficit wouldn't surge over two billion US dollars.

Still, Thailand's exports can hardly realize the government-set goal of 20 percent growth for 2005, for rising global oil prices and the sluggish recovery of tourism.

"Export growth of 15 percent this year is achievable, but 20 percent will be difficult," Kitti Limskul, a vice minister for the Prime Minister Office, was quoted by Bangkok Post as saying.

Source: Xinhua