In November, exports plummeted 13.1% over the same month the year before to USD 15.3 billion. The reading came in well below the 0.1% drop recorded in October, marking the sharpest contraction since August 2009 and exceeding market expectations of an 11.0% decline. The November drop reflected halts at several manufacturing firms due to the floods that hit the country last year, resulting in a contraction of shipments of manufacturing goods particularly of electronics. Meanwhile, imports swung from a 20.6% expansion in October to a 1.9% contraction in November. As a result the trade surplus shrunk from USD 1.0 billion in October to USD 218 million. The Commerce Ministry estimates that exports contracted 15% in the final quarter of 2011. Going forward, the Ministry expects a protracted recovery, as many export-oriented firms are still trying to get their manufacturing lines up and running after the flood. The Central Bank expects exports to have expanded 13.6% (previously: +22.4%) in the full year 2011, before slowing to 4.0% growth this year.
Thailand Trade Balance
Exports plunge in November
December 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.