In September, exports expanded 0.2% over the same month last year to USD 20.8 billion, which contrasted the 7.0% decline recorded in August. The reading, which marked the first increase after three consecutive contractions, surprised market expectations of a 2.0% decline. Healthy growth in exports of cars as well as of metal and steel products was the main driver behind the September expansion. On the other hand, imports fell 7.7% in September to USD 19.6 billion, which followed the 8.8% contraction recorded in August. Consequently, the trade balance recorded a USD 1.2 billion surplus (the first since March), which contrasted the USD 530 million deficit observed in the same month last year. The Ministry of Commerce recently revised down its forecast and now expects exports to grow 5% (previously reported: 15%), while the Finance Ministry sees exports growing 4.5%.
Thailand Trade Balance
Merchandise trade shows first surplus in seven months
October 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.