Thailand's trade deficit with Australia last year resulted from gold and oil imports facilitated by the Thai-Australian Free Trade Agreement (FTA), according to new figures given to the Thai cabinet.

Deputy Government Spokesman Chalermchai Mahakitsiri was Wednesday quoted by the official Thai News Agency as saying that the Commerce Ministry has made a report on the trade implications of the FTA among Thailand with Australia, China and India.

During January to November 2005, Thailand enjoyed trade surpluses with China and India but suffered a deficit with Australia, the report said.

As a result of the FTA with Australia, Thailand exported goods worth 2.9 billion U.S. dollars during January to November 2005, up 31 percent over the same period of 2004. Trucks topped the category of Thai exports.

At the same time, Thailand imported 3.0 billion U.S. dollars -- up 59 percent over the same period -- from Australia, resulting in a 111 million U.S. dollars deficit.

The rise in imports was due mainly to nearly 35 billion Baht ( about 875 million U.S. dollars) worth of gold and 19 billion baht (about 475 million U.S. dollars) worth of oil coming in from Australia.

Source: Xinhua