Thailand: Merchandise exports fall at a softer pace in November
December 20, 2020
Merchandise exports ticked down 3.6% in annual terms in November, following October’s 6.7% dive. November’s reading marked the softest fall since April 2020. Meanwhile, merchandise imports fell 1.0% on an annual basis in November (October: -14.3% yoy), marking the best result since March 2020.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.1 billion surplus in November (October 2020: USD 2.0 billion surplus; November 2019: USD 0.6 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 23.5 billion surplus in November, compared to the USD 24.0 billion surplus in October.
Author: Stephen Vogado, Economist