Thailand Trade July 2019


Thailand: Exports expand for first time in five months in July

August 21, 2019

Exports rose 4.3% over the same month last year in July, contrasting both June’s 2.1% drop and the 2.3% decline that market analysts had expected. July’s healthy outturn reflected stronger shipments of gold and food.

Imports rose 1.7% in July, contrasting the 9.4% contraction in June and representing the first positive reading in six months. July’s result also contrasted the 5.4% drop expected by market analysts. The sharp rise reflected strong growth in imports of capital and consumer goods.

The trade balance swung to a surplus of USD 0.1 billion in July 2019 from a deficit of USD 0.4 billion in July 2018 (June 2019: USD 3.2 billion surplus). The 12-month moving sum of the trade balance jumped to a USD 4.5 billion surplus from the USD 4.0 billion surplus in June.

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: Ricard Torné, Lead Economist

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Thailand Trade Chart

Thailand Trade12 July 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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