Trade Balance in Thailand
Thailand - Trade Balance
Trade deficit widens in November
Thailand recorded a USD 1.2 billion trade deficit in November, a bigger shortfall than October’s USD 280 million deficit. Moreover, the result contrasts the USD 1.9 billion trade surplus recorded in November 2017. The 12-month moving sum of the trade balance narrowed strongly from a USD 4.2 billion surplus in October to a USD 1.2 billion surplus in November, the lowest value since March 2015.
Exports contracted 0.9% year-on-year in November, swinging from October’s strong 8.7% expansion. The drop in exports came on the back of marked contractions in shipments of rubber; rice; motor cars, parts and accessories; and automatic data processing machines and parts. On the other hand, exports of precious stones and jewelry, refine fuels, and chemical products continued to grow strongly. Import growth accelerated from 11.2% year-on-year in October to 14.7% in November. Although this has had a negative effect on the trade balance, it reflects the domestic economy continuing to gain traction.
FocusEconomics panelists expect exports to expand 5.5% in 2019. The panel sees imports increasing 7.8% in 2019, which would bring the trade surplus to USD 22.0 billion. In 2020, exports and imports are expected to increase 6.2% and 6.9% respectively, with a trade surplus of USD 21.7 billion.
Thailand - Trade Balance Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | 0.1 | 17.2 | 26.8 | 36.6 | 31.8 |
Thailand Trade Balance Chart
Source: Bank of Thailand and FocusEconomics calculations.
Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.50 | 0.0 % | Jan 14 |
| Exchange Rate | 31.89 | 0.17 % | Jan 14 |
| Stock Market | 1,583 | -1.41 % | Jan 14 |
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Economic News
Thailand: Inflation moderates sharply in December
January 7, 2019
Consumer prices dropped 0.65% over the previous month in December, a sharper drop than November’s 0.22% decrease.
Thailand: Growth in manufacturing output eases markedly in November
December 28, 2018
Manufacturing production moderated strongly to a 1.0% year-on-year expansion in November from an upwardly revised 5.8% increase in October (previously reported: +4.1% year-on-year) and came in below market expectations.
Thailand: Trade deficit widens in November
December 28, 2018
Thailand recorded a USD 1.2 billion trade deficit in November, a bigger shortfall than October’s USD 280 million deficit.
Thailand: Bank of Thailand raises rates for the first time in seven years in December
December 19, 2018
Following the increasing hawkishness of the Monetary Policy Committee of the Bank of Thailand since August, the committee raised the policy rate by 25 basis points to 1.75% from 1.50% at its meeting on 19 December.
Thailand: Inflation drops below Central Bank target range in November
December 3, 2018
Consumer prices dropped 0.22% over the previous month in November, contrasting the 0.06% price increase in October.
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