Thailand Trade September 2018

Thailand

Thailand: Export growth contracts but trade balance remains in surplus in September

October 24, 2018

Thailand recorded a USD 487 million trade surplus in September, contrasting August’s USD 588 million deficit but noticeably below the USD 3.4 billion surplus recorded in the same month a year earlier. The 12-month moving sum of the trade balance narrowed markedly from a USD 7.7 billion surplus in August to a USD 4.7 billion surplus in September, the lowest reading since August 2015.

Exports contracted a marked 5.2% in September over a year ago in USD terms, contrasting the previous month’s 6.7% year-on-year increase. The contraction was driven by less exports of motor cars; precious stones and jewelry; rubber products; and electronic integrated circuits. Meanwhile, import growth slowed markedly from 22.8% in August to 9.9% in September.

FocusEconomics panelists expect exports to expand 5.1% in 2019. The panel sees imports increasing 7.2% in 2019, which would bring the trade surplus to USD 21.9 billion. In 2020, exports and imports are expected to increase 5.7% and 6.9% respectively, with a trade surplus of USD 20.2 billion.


Author:, Economist

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Thailand Trade12 September 2018 0

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Bank of Thailand (BoT) and FocusEconomics calculations.


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