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Thailand Trade February 2023

Thailand: Merchandise exports decline in February

Merchandise exports fell 4.7% on an annual basis in February, on the heels of January’s 4.5% drop. Meanwhile, merchandise imports expanded 1.1% in annual terms in February (January: +5.5% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 1.1 billion deficit in February (January 2023: USD 4.6 billion deficit; February 2022: USD 0.3 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 19.8 billion deficit in February, compared to the USD 18.4 billion deficit in January.

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