In August, exports expanded 28.4% over the same month last year, which represented a slowdown compared to the 36.4% increase registered in July. The reading fell short of market expectations, which had exports growing 30.6%. The monthly deceleration reflected slower growth in overseas sales of manufacturing products, particularly in high-tech shipments. On the other hand, imports accelerated from a 13.2% increase in July to a 45.9% expansion in August, which marked the fastest pace since May 2010. As a result, the trade surplus shrunk from USD 4.5 billion in July to USD 705 million in August. The Central Bank recently stated that import data from August will exclude insurance and freight costs, which will make import values fall by 10% compared to the customs-based series calculated by the Ministry of Commerce. Moreover, the recent flooding that has swept across the central region of the country is affecting the export supply chain, further deteriorating exporters' prospects for the coming months. The Central Bank expects exports to expand 22.4% this year, before slowing to 12.4% in 2012.
Thailand Trade Balance
Trade surplus shrinks amid slower exports
September 30, 2011
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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.