In May, exports expanded 17.3% over the same month last year to reach USD 19.3 billion, according to data from the Central Bank. The reading slowed from the 24.7% expansion observed in April but was virtually in line with market expectations of a 17.0% rise. The slower expansion mainly reflected weaker overseas sales to Japan, which expanded 30.4% year-on-year in May (April: +39.5% yoy). Meanwhile, imports accelerated from a 26.3% increase in April to rise 34.4% in May, which pushed imports up to USD 19.0 billion, driving the trade balance to a surplus of USD 274 million, which contrasted the trade deficit observed in the previous month (April: USD 477 million). Despite the monthly slowdown, export growth is likely to follow the positive trend, with the 3-month sum in exports rising to USD 57.6 billion in May from USD 56.7 billion in April. The Commerce Ministry has revised its growth estimates for this year and now expects exports will grow between 15% and 16%, up from its previous 12% projection. Moreover, the Central Bank expects overseas shipments to expand 20.4% this year before slowing to 12.4% in 2012.
Export growth continues to ease
June 30, 2011
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Thailand Economic News
October 17, 2016
On 13 October, Thailand’s beloved King Bhumibol Adulyadej died after a 70-year reign and his successor, Crown Prince Maha Vajiralongkorn, has declared his wish to wait until he ascends the throne.
October 4, 2016
In September, consumer prices inched up 0.04% from the previous month, which contrasted the 0.04% decrease observed in August and overshot market expectations of a 0.1% increase.
September 30, 2016
In August, the trade balance recorded a USD 2.1 billion surplus, which was above the USD 0.7 billion surplus observed in the same month of the previous year and was also higher than the USD 0.8 billion surplus registered in July.
September 30, 2016
In August, manufacturing production increased 3.1% over the same month last year, which was a sharp upswing from the 5.0% contraction seen in July and marked the highest reading in over three years.
September 14, 2016
At its 14 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to keep the one-day repurchase rate at 1.50% as the markets had expected. In its press release, the Bank commented that the Thai economy had accelerated in the second quarter on the back of strong private consumption and resilient public expenditure.