'This year exports are expected to grow by up to 25 per cent, up from our previous target of 20 per cent,' Chaiya told reporters.

'That follows from strong growth of exports last month at more than 26.1 percent,' he added.

He also predicted that the global economy would gradually improve next year.

'The US economy is likely to improve following the US presidential election. That should be good for exports,' he said.

Exports account for about 60 per cent of the Thai economy, with the country's major markets in the US, Japan and the European Union.

Thailand is the world's leading rice exporter and also a major producer of cars, textiles, electrical appliances, fruit and shrimp.

Months of anti-government protests and the fall of prime minister Samak Sundaravej last week in a cooking show scandal have hammered the Thai stock exchange, erasing a quarter of the market's value. -- AFP