BANGKOK, March 30 (Xinhua) -- Thailand's export performance exceeded forecasts but domestic consumption and investment are showing signs of slowing down in response to the ongoing political crisis, Thai Finance Ministry warned on Thursday.

    Naris Chaiyasoot, Director of the Fiscal Policy Office, Ministry of Finance, Thursday announced official figures and statistics of how the Thai economy performed during February. At this point, he estimated that the Thai economy should be able to achieve a 5 percent growth target for 2006 overall.

    The Fiscal Policy Office earlier forecast growth for the Thai economy at the rate of between 4.5-5.5 percent this year. Current account deficit is projected at 2.1 percent of gross domestic product.

    Tax revenue expanded by 11.8 percent in February compared to 13.3 percent in January. In particular, consumption-related tax collection grew 11.7 percent in February compared to 15.8 percent in January when consumption was boosted by the New Year and traditional Chinese New Year festivities.

    Value-added tax collection expanded by only 2.6 percent in February compared to 19.5 percent growth in January.

    "We have seen decrease in consumer-related tax revenue collections because of political factors. Investment indicators have also shown signs of slowing, but export growth remains robust," Naris explained.

    "The economy this year will therefore be export-propelled," said Naris.

    Thailand exported 5.5 billion U.S. dollars in goods during February, representing a 22.9 percent growth over January when exports expanded 13.6 percent to bring in revenue of 9.8 billion U.S. dollars.

    The kingdom's trade deficit for February stood at 268 million U.S. dollars compared to 442 million U.S. dollars in January when the country imported heavily to support export-led manufacturing.

    Thai exports especially in the manufacturing of computer hard disk drive and car, should remain on the strong growth path on the back of sustained economic growth among Thailand's key trading partners.

    Strong export turnout should help to stimulate the economy at the time when the caretaker administration would not implement any major investment activities. Enditem