Thailand External Debt (USD bn)

External Debt in Thailand

Merchandise exports decline in March

Merchandise exports fell 4.2% on an annual basis in March, on the heels of February’s 4.7% drop. Meanwhile, merchandise imports contracted 7.1% in annual terms in March (February: +1.1% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 2.7 billion surplus in March (February 2023: USD 1.1 billion deficit; March 2022: USD 2.0 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 19.0 billion deficit in March, compared to the USD 19.8 billion deficit in February.