Thailand Trade June 2019

Thailand

Thailand: Exports drop again in June, but trade surplus widens

July 23, 2019

The Thai trade balance recorded a surplus of USD 3.2 billion in June (June 2018: USD 1.8 billion surplus), despite a contraction in exports as imports fell at a steeper pace. The 12-month moving sum of the trade balance jumped to a USD 4.0 billion surplus from the USD 2.6 billion surplus in May.

Exports fell 2.1% year-on-year in June, improving from the 6.2% drop in May. The contraction in June came on the back broad-based declines across categories. Most categories recorded a decrease in shipments, with particular noticeable contractions in demand for automatic data processing machines and parts; motor cars, parts and accessories; rubber products; and polymers of ethylene and propylene. A more than doubling in exports of precious stones and jewelry cushioned the contraction in exports somewhat. Imports, meanwhile, dropped a whopping 9.4% year-on-year in June, markedly worse than the 0.7% contraction in May.

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 June 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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