Thailand Trade Balance November 2020


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.

FocusEconomics panelists project exports to grow 5.5% in 2021 and imports 7.9%, which would bring the trade surplus to USD 36.5 billion. In 2022, exports and imports are expected to increase 6.9% and 7.9% respectively, with the trade surplus at USD 37.1 billion.

Author:, Economist

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Thailand Trade Balance Chart

Thailand Trade12 November 20 20

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Bank of Thailand (BoT) and FocusEconomics calculations.

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