Thailand Trade September 2019

Thailand

Thailand: Exports continue to falter in September

October 23, 2019

Exports fell 1.4% year-on-year in September, improving from the 4.0% contraction in the prior month but contrasting market expectations of a 1.2% rise. This reflected decreased shipments of automatic data processing machines and parts; polymers of ethylene and propylene; chemical products; and refine fuels, while the drop in tech-related items is likely linked to the global slump in the tech cycle. Imports, meanwhile, dropped 4.2% over the prior year in September, up from the steep 14.6% drop in August.

Even so, the trade surplus widened from USD 0.7 billion in September 2018 to USD 1.3 billion in September 2019 (August: USD 2.1 billion surplus). The 12-month moving sum of the trade balance rose from a USD 7.0 billion surplus in August to a USD 7.6 billion surplus in September.

FocusEconomics panelists expect exports to expand 2.1% and imports to increase 3.0% in 2020, which would bring the trade surplus to USD 19.2 billion. In 2021, exports and imports are expected to increase 4.5% and 4.1% respectively, with a trade surplus of USD 21.1 billion.


Author:, Economist

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Thailand Trade12 September 2019

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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