Bangkok - Exports of Honda products manufactured in Thailand increased 18 per cent in the second quarter of 2008, year-on-year, earning 28.5 billion baht (856.5 million dollars) in foreign exchange, Asian Honda Motor Company announced Thursday.

Exports for the first half of 2008 amounted to 55.6 billion baht (1.7 billion dollars), Honda's Bangkok-based regional headquarters revealed.

Honda has been using Thailand as an export base since 1987.

The Japanese multinational currently manufactures 15 per cent of its world output in Thailand and exports made-in-Thailand small passengers car models City, Jazz, Civic, Accord and CR-V as well as motorcycles and power products to more than 80 countries.

"The ongoing increase in Honda exports clearly demonstrates that Thailand is one of Honda's strongest and most important manufacturing bases in the world today," said Asian Honda Motor's senior vice president Adisak Rohitasune, who predicted total exports in 2008 will reach 110 billion baht (3.3 billion dollars) despite adverse market conditions including rising oil prices, high inflation and a slowing US economy.

During the first half of 2008, Honda earned 36.0 billion baht off exports of automobiles, 11.7 billion baht off motorcycles, 5.6 billion baht off power products and the remainder off parts and components. (dpa)