Exports in Thailand
Thailand - Exports
Export growth jumps at the start of the year
Thailand recorded a USD 120 million deficit in January, swinging from the USD 830 million surplus registered in the same month of last year but notably above the USD 280 million deficit clocked in December 2017. Only two months have seen trade deficits since July 2017: December and January. The 12-month sum of the trade balance moderated in January from December’s USD 13.9 billion surplus to a USD 13.0 billion surplus.
Export growth in January more than doubled December’s pace of expansion: Exports expanded 17.5% in January on an annual basis compared to an 8.6% increase in December. January’s result was the quickest pace of expansion since November 2012. The result, which was notably above more modest market expectations, was chiefly driven by greater exports of cars, computers and rubber products. Strong export demand buttressed growth last year and the robust momentum seemingly carried over into the new year. However, import growth outpaced exports in January and the external sector’s net contribution was therefore negative.
The strength of the Thai currency, which traded at 31.39 per USD on 20 February, remains a topic of concern among exporters but has seemingly not yet affect foreign demand. Demand from key markets remained resilient despite the strong baht, according to officials at the commerce ministry.
Thailand Export Forecast
FocusEconomics Consensus Forecast panelists expect exports to increase 5.8% in 2018 and see the trade surplus reaching USD 26.2 billion. For 2019, panelists forecast exports to expand 5.5% and the trade surplus to reach USD 26.3 billion.
Thailand - Exports Data
|Exports (USD billion)||228||228||227||214||214|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.44||0.0 %||Feb 22|
|Exchange Rate||31.56||0.17 %||Feb 22|
|Stock Market||1,789||-1.41 %||Feb 22|
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February 21, 2018
Thailand recorded a USD 120 million deficit in January, swinging from the USD 830 million surplus registered in the same month of last year but notably above the USD 280 million deficit clocked in December 2017.
Thailand: Despite slowdown in the final quarter, the economy grew at fastest clip in 2017 in five years
February 19, 2018
The momentum in the Thai economy slowed somewhat in the final quarter of 2017.
February 15, 2018
At its 15 February monetary policy meeting, the Bank of Thailand (BoT) unanimously decided to keep the one-day repurchase rate at 1.50%, where it has been for over two years.
February 1, 2018
Consumer prices in Thailand increased 0.07% over the previous month in January, contrasting a 0.08% decrease in December.
January 31, 2018
Manufacturing output expanded 2.3% annually in December, down from November’s revised 4.1% jump (previously reported: +4.3% year-on-year).