Exports jumped to US$13.04 billion (Bt451 billion) last month on a customs basis, up 20.9 per cent year on year, the Commerce Ministry said yesterday.

In the first five months, exports soared 18.8 per cent to $58.7 billion, while imports edged up 4.4 per cent to $53.4 billion.

Both businesses and economists have been warning about slippage in export growth, due to the political uncertainty and strengthening baht.

But robust exports have pushed the merchandise trade account into a surplus of $5.3 billion for the first five months, compared with a deficit of $1.7 billion in the same period last year.

Commerce Minister Krirk-krai Jirapaet now sees the annual trade surplus reaching $8 billion to $9 billion.

"Exports are the key engine driving the economy. If no negative factors affect rising export growth, the country should enjoy a big trade surplus this year," he said.

Exports did well in each market, except for last month, when exports to the US dropped 0.7 per cent, because of weaker consumption, he said. Unlike late last year, the pricey baht had only a slight drag on exports, because it had become more stable.

With exports accounting for almost 60 per cent of gross domestic product, the ministry is confident economic growth will surpass 4 per cent this year.

Last month, imports grew 6.7 per cent to $12.24 billion, leaving a surplus of $800.2 million.

In the first five months, exports in all categories experienced significant growth, particularly farm products.

Rice climbed 21.7 per cent, and sugar rose 197 per cent. Most industrial exports increased more than 15 per cent, including electronic goods, automobiles, construction materials, printed matter, cosmetics and medical products.

Export Promotion Department director-general Rachane Potjanasuntorn said the ministry was sure that exports would reach this year's target of 12.5-per-cent growth to $145 billion, thanks to aggressive promotion of exports to target markets.

Exports in the first five months were 40.25 per cent of the full-year target.

The rise in exports in May followed improved performance in all sectors, including growth of 15.5 per cent in the agricultural and agro-industrial sector, 21.4 per cent for industrial goods and 23 per cent in other sectors.

Exports of farm products - particularly rice, tapioca, frozen food and sugar - rose sharply. The value of rice exports jumped 25.48 per cent year on year since the beginning this year to June 14.

Exports to all markets also increased in the first five months, with a 13.3-per-cent hike to the major markets: the US, the EU and Japan. Exports to the EU alone showed a significant improvement of 23.2 per cent.

Exports to new markets leaped 26.3 per cent. Outstanding results included increases of 60.5 per cent in sales to India, 56.8 per cent to Eastern Europe, 35 per cent to the Middle East, 31.9 per cent to Latin America and 27.4 per cent to China.