Thailand: Trade deficit narrows in November
December 27, 2013
In November, the trade balance recorded a USD 560 million deficit, which followed the USD 1.8 billion shortfall recorded in October. November's deficit was below the USD 1.6 billion deficit tallied in the same month of the previous year.
Exports fell 4.1% in November (October: -0.7% year-on-year) and the 12-month sum of exports fell from 3.6% in October to 1.0% in November. In addition, imports deteriorated from a 5.4% decrease in October to an 8.6% fall in November (12-month sum of imports: +2.7% yoy).
In 2014, FocusEconomics Consensus Forecast panelists expect exports to increase 3.4% to 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