A beach town in Thailand

Thailand Trade Balance May 2020

Thailand: Merchandise exports crash to an over decade-low in May

Thai merchandise exports slumped 22.5% year-on-year in May, contrasting April’s 2.1% increase and marking the sharpest fall since July 2009. The downturn chiefly reflected plummeting exports of industrial products, and of mineral and fuel goods. Exports of agricultural products fell as well, although at a softer pace.

Meanwhile, merchandise imports fell 34.4% over a year ago in May, down from the 17.1% downturn recorded in April and marking the sharpest drop since May 2009. As imports plunged at a faster rate than exports, the trade balance surplus rose to USD 2.7 billion from USD 2.5 billion in April. On a 12-month rolling basis, the trade surplus rose to USD 17.5 billion from USD 15.1 billion in the previous month.

The Covid-19 pandemic will take a heavy toll on exports this year and weigh on the overall economy. Moreover, the balance of risks is notably titled to the downside owing amid a slowing Chinese economy, the trade dispute between the U.S. and China and the possibility of a second wave of infection.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest