Thailand Trade Balance August 2022

Thailand

Thailand: Merchandise exports accelerate in August

October 17, 2022

Merchandise exports increased 7.5% annually in August, on the heels of July’s 4.3% upturn. Meanwhile, merchandise imports rose 20.1% on an annual basis in August (July: +21.5% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 5.2 billion deficit in August (July 2022: USD 3.7 billion deficit; August 2021: USD 1.2 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 13.2 billion deficit in August, compared to the USD 10.2 billion deficit in July.

FocusEconomics panelists project exports to grow 5.0% in 2022 and imports 7.6%, which would bring the trade surplus to USD 36.1 billion. In 2023, exports and imports are expected to increase 5.0% and 5.8% respectively, with the trade surplus at USD 36.1 billion.


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