DBS Vickers Securities recommended 4 export stocks including CPF (TP: ฿43.00/share), TU (TP: ฿17.40/share), KCE (TP: ฿67.00/share) and STGT (TP: ฿55.00/share) to be benefited from the February export report.
The Ministry of Commerce on Thursday (March 25) reported that Thai exports in February 2021 had a value of 20,219.01 million U.S. Dollar, standing above 20 billion U.S. Dollar despite a drop of 2.59% YoY, compared with market consensus of a 1.5-2.4% gain.
However, in case of excluding oil and gold, exports for the month Feb will grow 2.87% YoY.
Meanwhile, imports expanded 21.99% YoY with a value of 20,211.76 million U.S. Dollar, bringing to a 7.25 million U.S. Dollar surplus in Feb, due to an increase in importing raw materials and machines in line with production recovery.
For the 2021 outlook, Bank of Thailand forecasted an export growth of 10%, compared with contraction of 6.6% in 2020 as vaccine rollout offered a path out of global recession amid Covid-19 pandemic.