Thailand: Exports decelerate notably in March

In March, the trade balance recorded a USD 3.0 billion surplus, which was above the USD 1.5 billion surplus observed in the same month of the previous year but below the USD 5.0 billion surplus registered in February. The 12-month moving sum of trade recorded a USD 18.4 billion surplus in March, which was up from the USD 17.0 billion surplus seen in the previous month.

Exports in March increased 1.3% over the same month of the previous year, which was a deceleration compared to the 10.3% increase seen in February that had marked the best result since January 2013. Imports dropped 6.9%, which was up from the 16.8% decrease seen in the previous month.

In 2016, FocusEconomics Consensus Forecast panelists expect exports to increase 1.6% (USD 229.8 billion) and they see the trade surplus reaching USD 17.9 billion. For 2017, panelists expect export growth to accelerate to 4.8% (USD 240.9 billion) and the trade surplus to narrow to USD 17.1 billion.