Imports in Thailand
Thailand - Imports
Exports shrink in February
Thai exports dropped 4.5% year-on-year in February, swinging from January’s 3.3% increase, likely influenced by the Covid-19 pandemic depressing globe trade and economic activity. The print, moreover, reflected lower exports of cars; polymers of ethylene and propylene; chemical products; electronic integrated circuits; and iron and steel. This more than offset strong growth in precious stones and jewelry.
Imports, meanwhile, fell 4.3% over a year ago, up from the 7.9% contraction in January. As imports continued to plunge, the trade balance swung from a USD 1.6 billion deficit in January to a USD 3.9 billion surplus in February; on a 12-month rolling basis, however, the trade surplus narrowed from USD 12.0 billion to USD 11.8 billion.
Exports are expected to take a beating from the Covid-19 pandemic this year and weigh on the overall economy. Moreover, the balance of risks is notably titled to the downside owing to the pandemic, a slowing Chinese economy and the trade dispute between the U.S. and China.
FocusEconomics panelists expect exports to contract 0.8% in 2020. The panel sees imports increasing 0.5% in 2020, which would bring the trade surplus to USD 23.6 billion. In 2021, exports and imports are expected to increase 5.4% and 6.9% respectively, with the trade surplus narrowing to USD 21.5 billion.
Thailand - Imports Data
|Imports (USD billion)||187||178||201||229||216|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||30.11||0.17 %||Dec 30|
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April 1, 2021
Manufacturing output fell 0.3% in month-on-month seasonally-adjusted terms in February, which contrasted January's 0.4% increase.
March 24, 2021
At its 24 March meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) kept the policy rate at the record low of 0.50% for the seventh consecutive meeting.
March 22, 2021
Merchandise exports declined 2.6% over the same month last year in February, contrasting January’s 0.4% year-on-year increase.
March 5, 2021
Consumer prices fell 0.91% over the previous month in February, swinging from the 0.09% increase logged in January.
February 26, 2021
Manufacturing output dropped 0.1% month-on-month in seasonally-adjusted terms in January, which contrasted December’s 1.7% rise. On an annual basis, manufacturing production declined 2.8% in January, which matched December’s fall.