Bangkok - Thailand's exports are expected to increase up to 20 per cent this year, after hitting 87.11 trillion dollars in the first six months, the Export-Import Bank of Thailand forecast Tuesday.

The bank's economic information department noted that Thailand's exports to new markets surged 31.1 per cent during the first half of 2008, the state-run Thai News Agency reported.

Exports to Africa rose 60.5 per cent, while those to Indochina, a group consisting of Cambodia, Laos and Vietnam, rose 57 per cent, and exports to Eastern Europe were up by 31.8 per cent.

Thailand's key exports during the period included cement, books and printings, paper and products, chemical products, precious stones and ornaments, cassavas, electronic products, rice, textiles, and electrical appliances, the report said.

The state-run bank attributed the continued export growth in part to Thai exporters' ability to adjust themselves to changes in world trade regulations and to produce value-added exports.

A considerable hike in export prices, such as commodity prices, also contributed to the increase in the export value in the first half of the year.

But the bank said exports in 2009 would be volatile since the global economy remains fragile.

The economies of the United States, European Union and Japan - Thailand's traditional export markets - are expected to slow down. (dpa)