In February, exports expanded 29.1% over the same month the year before to reach USD 18.4 billion, which represented a record high. The reading was above both the previous 21.4% increase observed in January and market expectations of 16.1%. The monthly expansion was mainly boosted by higher shipments of industrial products and, in particular, agricultural products, which benefited from rising world prices for agricultural products. Imports, in contrast, decelerated from the strong 31.2% expansion observed in January to an 18.6% increase in February. As a result, the trade balance incurred a surplus of USD 2.0 billion, which contrasted the deficit of USD 588 million witnessed in January. As a result of the strong February reading, the moving 3-month export sum jumped to USD 52.1 billion from USD 51.3 billion in January. Exports remain above the pre-crisis peak of USD 49.8 billion observed in the three months to August 2008 and bounced back almost 60% from the USD 33.2 billion trough witnessed in the three months leading up to May 2009. In a recent statement, Commerce Minister Porntiva Nakasai argued that export growth is likely to weaken somewhat in the months to come, as the crisis in Japan is expected to negatively impact shipments. Japan ranks fourth among Thailand's export destinations. The Commerce Ministry anticipates exports to rise 10.0% this year, after having surged 28.5% in 2010.
Thailand Trade Balance
Exports rise to record high
March 31, 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.