In December, exports declined 2.1% over the same month the previous year and reached USD 16.9 billion. The reading followed the devastating 13.1% plunge witnessed in November, which had marked the deepest contraction since August 2009. The December fall was in line with market expectations and mainly reflected contractions in overseas sales of manufacturing products and declines in exports of agricultural products. Meanwhile, imports soared 19.6% in December (November: -1.9% year-on-year), on the back of higher imports of food and capital goods, particularly purchases of vehicle parts, as production shortages in the car industry are beginning to fade. The trade balance incurred a deficit of USD 238 million in December, which contrasted the USD 218 million surplus registered in November. For the full year 2011, exports grew 17.2% and reached USD 228 billion, which was well above the USD 189 billion recorded in 2010. The Commerce Ministry estimates that exports will grow 15% this year to USD 263 billion, while the Central Bank expects export growth to moderate to 4.0% this year.
Thailand Trade Balance
Exports moderate pace of contraction as floods recede
January 31, 2012
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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.