Thailand: Merchandise exports increase in May
July 1, 2022
Merchandise exports jumped 10.5% year-on-year in May, on the heels of April’s 9.9% rise. Meanwhile, merchandise imports soared 24.1% in annual terms in May (April: +21.5% yoy), marking the strongest result since December 2021.
As a result, the merchandise trade balance improved from the previous month, recording a USD 1.9 billion deficit in May (April 2022: USD 1.9 billion deficit; May 2021: USD 1.0 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 2.3 billion deficit in May, compared to the USD 0.6 billion surplus in April.