Thailand: Exports record softer contraction in May
July 14, 2016
In May, the trade balance recorded a USD 1.5 billion surplus, which was below the USD 2.4 billion deficit observed in the same month of the previous year, but marked an improvement over the USD 0.7 billion surplus registered in the previous month. The 12-month moving sum of trade recorded a USD 18.8 billion surplus in May, which was down from the USD 19.7 billion surplus seen in the previous month.
Exports in May decreased 4.4% over the same month of the previous year, which was an improvement over the 8.0% drop observed in the previous month. However, imports rebounded from a 14.9% decrease in April to a 0.5% increase in May, thus hitting the highest reading since February 2015.
Author: Dirina Mançellari, Senior Economist