Thailand had its biggest trade surplus in almost two years in May as exports jumped 42 percent from a year before, more than the 34 percent forecast.

Economists said that might reassure investors worried about the health of the economy after political unrest, and one said it could make an interest rate rise in July more likely.

Exports to China were strong, while shipments to the euro zone rose 19 percent in May from a year before, up from a rise of 15 percent in April.

Commerce Minister Porntiva Nakasai told reporters: "Exporters said the euro zone had started to see belt-tightening, which could affect exports in the second half."

But economists said there had been little impact so far and may not be much as long as the euro zone crisis is contained. Key Points

  • Exports +42.1 pct y/y; imports +55.1 pct y/y in May -- Commerce Ministry
  • Trade surplus of $2.2 billion after a deficit of $266 million in April, the first trade gap since November 2008
  • Exports to China +39.4 pct y/y (+26.9 pct in April)
  • Exports to U.S market +26.7 pct y/y (+12.5 pct in April)
  • Exports to Japan +39.4 pct y/y (+13.6 pct in April)
  • Exports to EU +19.3 pct y/y (+15.0 pct in April) (Reuters)