In February, exports expanded 0.9% over the same month last year to reach USD 19.0 billion. The reading contrasted the 6.0% contraction registered in January and marked, in fact, the first positive growth rate in three months. In addition, the figure contrasted market expectations that had exports declining 5.0%. The February improvement reflected an expansion in overseas sales of manufacturing products, particularly the shipments of cars. Exports of electronic products continued to decline in February, albeit at a more modest pace. Meanwhile, imports grew 8.3% in February, which contrasted the 4.2% decline recorded in January, suggesting that the recovery in manufacturing remains on track. As a result, the trade balance incurred a surplus of USD 530 million in February, which contrasted the USD 1.1 billion deficit recorded in January. The Ministry of Commerce expects exports to continue to recover in the months ahead and grow 15% this year. Meanwhile, the Central Bank expects export growth to moderate to 4.0% this year.
Thailand Trade Balance
Exports expand for the first time since floods struck in October
March 30, 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.