Thailand Trade February 2019

Thailand

Thailand: Weapons shipments lead to rebound in exports in February

March 25, 2019

The external sector rebounded in February, with the trade balance swinging from a USD 4.0 billion deficit in January to a USD 4.0 billion surplus. The 12-month moving sum of the trade balance consequently jumped to a USD 2.4 billion surplus in February from a USD 709 million shortfall in the prior month.

The result reflected a remarkable turnaround of fortunes. Exports grew 5.9% year-on-year, contrasting a 5.6% drop in January, while imports fell 10.0% year-on-year, swinging from a 14.0% increase in the prior month. The strong rise was due to a massive jump in outbound shipments of arms and ammunition, which significantly offset noticeable drops in exports of cars and cars parts and automatic data processing machines and parts.

FocusEconomics panelists expect exports to expand 3.4% in 2019. The panel sees imports increasing 6.3% in 2019, which would bring the trade surplus to USD 17.8 billion. In 2020, exports and imports are expected to increase 4.6% and 5.5% respectively, with a trade surplus of USD 16.3 billion.


Author:, Economist

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Thailand Trade12 February 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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