Thailand: Trade surplus shrinks in November
December 30, 2010
In November, exports rose 28.7% over the same month the year before to reach USD 17.6 billion, according to data released by the Central Bank. The reading marked the fastest pace of growth in five months, and came in well above the 16.6% increase observed in October, as well as market expectations of a 21.0% increase. The better-than-expected overseas sales figure was fanned by strong shipments to China, the United States and the European Union. Imports soared 35.0% in November reaching USD 17.1 billion, well above the 14.4% expansion registered in October. As a result, the trade balance surplus shrank from USD 2.3 billion in October to USD 490 million in November. With the growth recorded in November, the moving 3-month export sum reached USD 52.6 billion, remaining above the pre-crisis peak of USD 49.8 billion recorded in August 2008 for the second consecutive month.
Author: Ricardo Aceves, Senior Economist