Thailand Trade Balance February 2022

Thailand

Thailand: Merchandise exports rise at a faster pace in February

April 1, 2022

Merchandise exports soared 16.2% over the same month last year in February, following January’s 8.0% increase. Meanwhile, merchandise imports climbed 16.8% on an annual basis in February (January: +20.5% yoy), marking the weakest reading since March 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 0.1 billion surplus in February (January 2022: USD 2.5 billion deficit; February 2021: USD 0.2 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 1.0 billion surplus in February, compared to the USD 1.1 billion surplus in January.

FocusEconomics panelists project exports to grow 5.0% in 2022 and imports 7.6%, which would bring the trade surplus to USD 36.1 billion. In 2023, exports and imports are expected to increase 5.0% and 5.8% respectively, with the trade surplus at USD 36.1 billion.


Author: Massimo Bassetti, Senior Economist

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