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Thailand Trade May 2024

Thailand: Merchandise exports accelerate in May

Merchandise exports rose 7.8% on an annual basis in May, following April’s 5.8% increase. The outturn marked the fastest growth since September 2022. Meanwhile, merchandise imports contracted 2.4% over the same month last year in May (April: +6.4% yoy), marking the weakest result since September 2023.

As a result, the merchandise trade balance improved from the previous month, recording a USD 2.8 billion surplus in May (April 2024: USD 0.3 billion surplus; May 2023: USD 0.4 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 16.4 billion surplus in May, compared to the USD 14.0 billion surplus in April.

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