Thailand: Merchandise exports increase at a milder rate in January
Merchandise exports rose 8.0% over the same month last year in January (December: +24.2% year-on-year). January’s figure marked the weakest expansion since March 2021. Meanwhile, merchandise imports jumped 20.5% in annual terms in January (December: +33.4% yoy).
As a result, the merchandise trade balance dropped from the previous month, recording a USD 2.5 billion deficit in January (December 2021: USD 0.4 billion deficit; January 2021: USD 0.0 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 1.1 billion surplus in January, compared to the USD 3.6 billion surplus in December.