In May, exports expanded 7.7% over the same month last year to USD 20.9 billion, which contrasted the 3.7% contraction observed in April and exceeded market expectations that had exports increasing only 0.4%. The improvement in May reflected strong growth in exports of agricultural goods (+12.6% year-on-year), electronics (+10.3% yoy) and shipments of cars, which soared 70.9% in annual terms, as car manufacturing is rapidly recovering from last year's flooding. Imports increased 18.2% in May to USD 22.7 billion, which was more than double the 7.9% expansion recorded in April. The healthy reading revealed how businesses replaced damaged machinery, with imports of capital goods soaring 47.3% in annual terms. Despite the improvement seen exports, the trade balance incurred a deficit of USD 1.7 billion in May, which contrasted the USD 250 million surplus recorded in the same month last year. The Ministry of Commerce expects exports to recover in the second half of this year and maintained its exports growth estimate for this year at 15%. Meanwhile, the Bank of Thailand expects exports to expand 9.2% this year, before accelerating to 14.6% in 2013
Thailand Trade Balance
Trade balance turns negative despite a rebound in exports
June 29, 2012
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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.