Thailand: Trade shows first surplus in a year
October 31, 2013
In September, the trade balance recorded a USD 470 million surplus. This marked the first surplus in a year and significantly contrasted the USD 90 million deficit recorded in August. The result was, however, below the USD 910 million surplus recorded in the same month last year.
Exports fell 7.1% in September (August: +3.9% year-on-year). The 12-month sum of exports increased 5.0%. In addition, imports slowed from a 2.1% decrease in August to a 5.2% fall in September (12-month sum of imports: +7.2% yoy).
In 2013, FocusEconomics Consensus Forecast panelists expect exports to increase 3.4% to USD 237 billion. For 2014, panelists expect export growth to accelerate to 8.2%, which will push overseas sales to USD 256 billion.
Author: Dirina Mançellari, Senior Economist