Thailand: Trade balance reaches largest surplus in over three years
March 31, 2014
In February, the trade balance recorded a USD 1.8 billion surplus, which contrasted the USD 2.0 billion shortfall observed in the same month last year (January: USD 2.5 deficit). February's reading marked the first surplus since September 2012 and the largest one since October 2010.
Exports rose 2.4% over the same month last year, which contrasted the 2.0% decrease observed in January. The 12-month sum of exports rose from minus 1.5% in January to minus 0.8% in February. Imports deteriorated from a 15.5% fall in January to 16.6% decrease in February. February's 12-month sum of imports fell from minus 3.6% in January to minus 5.6% in February.
In 2014, FocusEconomics Consensus Forecast panelists expect exports to increase 3.4% to reach USD 237 billion. For 2015, panelists expect export growth to accelerate to 8.2%, which will push overseas sales to USD 256 billion.
Author: Dirina Mançellari, Senior Economist