In April, exports dropped 3.7% over the same month last year to USD 16.9 billion. The reading was above the 6.5% contraction observed in March but surprised market analysts, who had expected a 3.0% expansion. With the April reading, shipments have recorded almost six consecutive monthly contractions. The drop in April reflected a contraction in shipments of agricultural products, particularly of rice, which have been declining since September 2011. On the other hand, exports of cars and car parts expanded 22.4% in annual terms, its fastest pace since January 2011. Imports expanded 7.9% in April to USD 19.8 billion, well below the 25.6% expansion recorded in March. The reading reflected strong growth in imports of capital goods, which suggests that the recovery in manufacturing remains on track. As a result, the trade deficit narrowed from USD 4.6 billion in March to USD 2.9 billion in April. The Bank of Thailand expects exports to expand 9.2% this year, before accelerating to 14.6% in 2013.
Thailand Trade Balance
Exports contract unexpectedly in April
May 31, 2012
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Thailand Trade Balance Chart
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.