In July, exports contracted 9.2% over the same month a year ago to USD 19.5 billion, which followed the 4.2% decline recorded in June. The reading exceeded market expectations that had exports declining 5.0%. The contraction mainly reflected a deterioration in shipments of manufactured goods, particularly of electronics. In addition, overseas sales of agricultural products contracted over the previous month. That said, imports accelerated from a 2.6% increase in June to a 13.7% expansion in July (USD 21.3 billion). The acceleration reflected faster growth in imports of consumer and capital goods. As a result, the trade balance incurred a deficit of USD 1.8 billion in July, which contrasted the USD 2.8 billion surplus recorded in the same month last year. The Ministry of Commerce expects exports to grow 9% (previously reported: 15%), while the National Economic and Social Development Board cut its projections for this year and now expects exports to grow 7.3%, below its previous 15.1% estimate.
Thailand Trade Balance
Exports plunge in July
August 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.