RPT-PREVIEW-Thai Feb exports seen down 0.15 pct y/y, trade in deficit

(Repeats March 22 story, with release time updated - no change in text)

* Exports impacted by Feb holidays; Jan +16.09 pct y/y

* Feb imports seen +10.35 pct y/y vs +40.87 pct in Jan

* Data due on Thurs, March 28, around 0400 GMT

By Orathai Sriring

BANGKOK, March 22 (Reuters) - Thailand's exports in February likely slipped from a year earlier due to fewer working days during the Lunar New Year holidays and still soft overseas demand while a strong baht has added to the concerns of exporters.

The median forecast of 10 economists polled by Reuters was for a fall of 0.15 percent from February 2012. But there was a wide range of forecasts, from a 7.50 percent decline to a 4.50 percent increase.

The Lunar New Year holidays came in February this year while they were in January last year. In January 2013, shipments rose 16.09 percent year-on-year and 0.9 percent month-on-month. The high annual increase reflected a low base as the Thai economy remained battered from severe floods in late 2011.

The poll projected annual import growth of 10.35 percent in February and, as a result, a trade deficit of $1.8 billion. Imports surged nearly 41 percent in January from a year earlier.

"Flood reconstruction efforts have already eased, but capital goods imports have stayed elevated indicating sustained investor confidence in the country as a manufacturing base," said economist Eugene Leow of DBS Bank in Singapore.

Firms hit by the devastating 2011 flooding are back to normal but some are running at weak operating levels due to sluggish exports. Industrial goods account for 65 percent of Thailand's total exports.

A strong baht has added to the worries of exporters. Still, economists say there hasn't been much impact yet and big firms have hedged against currency risks. While a strong baht makes Thai exports more expensive, it also reduces the cost of imports - many of which go into goods that are then exported.

Total exports "are unlikely to be affected by dollar/baht rates too much," said economist Chester Liaw of Forecast Pte. in Singapore.

On Wednesday, the baht

hit a 16-year-high of 29.07 to the dollar. On Friday afternoon, it was trading at a weaker 29.31 to the dollar. Due to sustained inflows, the baht has been emerging Asia's strongest currency this year, gaining about 4.5 percent against the dollar.

Economist Pimonwan Mahujchariyawong of Kasikorn Research Centre forecasts export growth of 10.5 percent for 2013, based on an average baht rate of 29.50 per dollar, but said increase could be only 6.5 percent if the currency averages 28.90 for the year.

Exports rose about 3 percent last year, and the Bank of Thailand (BOT) projects a 9 percent gain in 2013.

The government has called for an interest rate cut to deter inflows and ease the baht's rise, but the central bank has resisted for fear this would fuel inflation.

.

The BOT's policy committee left the main interest rate

unchanged at 2.75 percent for a third straight meeting on Feb. 20, citing risks from fast credit growth and slightly higher inflationary pressure.

Most economists expect the policy rate to remain on hold for some months as domestic demand remains strong and inflation is benign. The next policy review is on April 3.

To track Thai economic data, click on

REUTERS POLL (pct change on year unless stated)

DATA MEDIAN RANGE JAN FORECASTERS Exports -0.15 -7.50/+4.50 +16.09 10 Imports +10.35 +4.90/+20.40 +40.87 10 Balance ($bln) -1.80 -4.68/-0.10 -5.49 9

Poll details (pct change from year earlier unless stated)

DATA Exp Imp trade balance RESPONDENTS (pct) (pct) ($ million) Forecast Pte +4.5 +8.1 -100 OCBC Bank +4.0 +10.3 -600 DBS Bank +3.1 +10.4 n.a HSBC +2.1 +17.4 -2,952 Tisco Securities 0.0 +19.0 -3,000 Capital Nomura -0.3 +7.7 -900 ING -2.0 +17.5 -3,086 Phatra Securities -4.4 +4.9 -1,200 Kasikorn Research -4.5 +8.0 -1,800 Kiatnakin Bank -7.5 +20.4 -4,682

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MEDIAN -0.15 +10.35 -1,800

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($1 = 29.20 baht)

(Additional reporing by Pairat Temphairojana; Editing by Alan Raybould and Richard Borsuk)

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Keywords: THAILAND ECONOMY/TRADE