Thailand: Trade balance reaches lowest level in nine months
February 28, 2014
In January, the trade balance recorded a USD 2.5 billion deficit, which was well below the USD 280 million shortfall recorded in December. The result marked the highest deficit in nine months. January's print did, however, come in above the USD 5.9 billion deficit tallied in the same month last year.
Exports fell 2.0% over the same month last year, which contrasted the 1.9% rise recorded in December. The 12-month sum of exports fell from 0.1% in December to minus 1.5% in January. Imports deteriorated from a 9.9% fall in December to a 15.5% decline in January. January's 12-month sum of imports fell from plus 1.4% in December to minus 3.6% in January.
In 2014, FocusEconomics Consensus Forecast panelists expect exports to increase 3.4% to USD 237 billion. For 2015, panelists expect export growth to accelerate to 8.2%, which will push overseas sales to USD 256 billion.
Author: Dirina Mançellari, Senior Economist