Thailand Trade February 2018

Thailand

Thailand: Export growth moderates but trade surplus widens in March

April 23, 2018

In the final month of the first quarter, Thailand’s important external sector recorded its biggest trade surplus in four months, despite a stronger-than-expected moderation in export growth. In March, Thailand’s trade balance recorded a surplus of USD 1.3 billion, which was above the USD 810 million surplus in the prior month. However, the surplus came in below the one logged in the same month a year ago (USD 1.6 billion surplus). Moreover, the 12-month sum of the trade balance dropped from USD 12.2 billion in February to USD 11.8 billion in March.

Growth in exports moderated notably in March to 7.0% year-on-year, down from the prior month’s 10.3% increase. The result, which was in part due to a large base effect, marked the slowest pace of expansion since February 2017 and came in below market expectations of a stronger 8.0% increase. Nonetheless solid, the result was driven by robust foreign demand for industrial products such as automobiles, computers and chemicals. In addition, demand from most major markets, with the exception of China, picked up. Exports of agricultural products, however, contracted for the first time in 16 months. Meanwhile, import growth also moderated significantly in the same month but still outpaced export growth. Imports grew 9.4% on the year, notably below the prior month’s 16.0% year-on-year expansion.

Thailand Trade Balance Forecast


In 2018, FocusEconomics Consensus Forecast panelists expect exports to increase 6.6%, and the trade surplus to reach USD 23.9 billion. For 2019, panelists forecast exports will expand 4.9% and the trade surplus will reach USD 23.6 billion.


Author:, Economist

Sample Report

Looking for forecasts related to Trade in Thailand? Download a sample report now.

Download

Thailand Trade Chart


Thailand Trade12 March 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.


Thailand Economic News

  • Thailand: Inflation inches down in May

    June 4, 2019

    Consumer prices increased 0.48% month-on-month in May, up from the prior month’s 0.44% rise, reflective on noticeable price increases for food and non-alcoholic beverages, while transportation and communication costs also rose albeit at a softer pace than in the prior month.

    Read more

  • Thailand: Manufacturing output rebounds in April

    May 28, 2019

    Manufacturing production rose 2.0% year-on-year in April, swinging from a revised 2.7% contraction in March (previously reported: -2.5% year-on-year).

    Read more

  • Thailand: Exports fall again in April

    May 23, 2019

    Thailand recorded a trade deficit of USD 1.5 billion in April, swinging from a USD 2.0 billion surplus in March; the 12-month moving sum of the trade balance narrowed from a USD 3.0 billion surplus in March to a USD 2.6 billion surplus.

    Read more

  • Thailand: Economic growth moderates to near five-year low in Q1

    May 21, 2019

    Economic growth decelerated to 2.8% year-on-year in the first quarter of 2019, down from the 3.6% annual expansion logged in Q4 last year and the lowest reading in nearly half a decade.

    Read more

  • Thailand: Inflation stable in April at lower end of Central Bank’s target range

    May 16, 2019

    Consumer prices rose 0.44% in April over the previous month (March: 0.41% month-on-month) due to stronger price increases for food and non-alcoholic beverages, and apparel and footwear. Inflation was stable at March’s 1.2% in April, remaining within the Central Bank’s 1.0%–4.0% target range for the second time after several months of undershooting.

    Read more

More news

Search form