Thailand: Trade surplus widens in December
January 31, 2011
In December, exports rose 18.6% over the same month the previous year to reach USD 17.2 billion, according to data released by the Central Bank. While growth remained strong, it decelerated compared to the 28.7% expansion observed in November, but still overshot market analyst expectations, which had seen exports growing 16.3%. Meanwhile, imports decelerated sharply over the previous month. After mushrooming 35.0% in November, growth slowed to 8.8% in December, which marked the slowest pace since November 2009. As a result, the trade surplus widened from USD 490 million in November to USD 1.3 billion in December. For the full year 2010, exports expanded 28.5% and imports surged 36.8%, which in both cases marked the fastest pace on record. Going forward, export growth is likely to weaken somewhat this year, amid slower demand growth in China, which is the most important export destination for Thailand.
Author: Ricardo Aceves, Senior Economist