Thailand Trade Balance July 2022

Thailand

Thailand: Merchandise exports growth slows in July

September 16, 2022

Merchandise exports expanded 4.3% annually in July, on the heels of June’s 12.0% rise. Meanwhile, merchandise imports shot up 21.5% on an annual basis in July (June: +24.5% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.7 billion deficit in July (June 2022: USD 1.5 billion deficit; July 2021: USD 0.2 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 10.2 billion deficit in July, compared to the USD 6.4 billion deficit in June.

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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