Thailand Trade May 2019

Thailand

Thailand: Exports continue to falter in May

June 28, 2019

In May, Thailand recorded a small trade surplus of USD 0.2 billion, contrasting the USD 1.5 billion shortfall in April. However, the 12-month moving sum of the trade balance narrowed markedly from a USD 3.8 billion surplus in April to a USD 2.6 billion surplus in May.

On the year, exports dropped a whopping 6.2% in May, markedly worse than the 2.8% contraction in April. In fact, this marked the steepest drop in nearly three years. The drop in exports came on the back of broad-based declines as only two categories recorded growth in outbound shipments. Particularly, exports of vehicles, parts and accessories witnessed a strong drop. Imports, meanwhile, dropped 0.7% year-on-year in May and matched the figure of the prior month.

FocusEconomics panelists expect exports to expand 2.9% in 2019. The panel sees imports increasing 5.2% in 2019, which would bring the trade surplus to USD 19.0 billion. In 2020, exports and imports are expected to increase 4.0% and 5.0% respectively, with a trade surplus of USD 17.3 billion.


Author:, Economist

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Thailand Trade12 May 2019 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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