Thailand: Trade deficit increases in July
August 26, 2013
In July, the trade balance recorded a USD 2.3 billion deficit. The result exceeded both the USD 1.9 billion shortfall recorded in June and the deficit of USD 1.8 billion recorded in the same month last year.
Exports contracted 1.5% annually in July, which followed the 3.4% drop observed in June. The 12-month sum of exports rose 4.7%. Imports expanded 1.1% in July, which was below June's 3.0% increase (12-month sum of imports: +6.6% year-on-year).
In 2013, FocusEconomics Consensus Forecast panellists expect exports to increase 3.4% to USD 237 billion. For 2014, panellists expect export growth to accelerate to 8.2%, which will push overseas sales to USD 256 billion.
Author: Dirina Mançellari, Senior Economist