Thailand: Trade deficit narrows significantly in August
September 30, 2013
In August, the trade balance recorded a USD 90 million deficit, which was an improvement over the USD 2.3 billion deficit recorded in July. In addition, the result was below the USD 1.3 billion shortfall recorded in the same month last year.
Exports expanded 3.9% annually in August, which contrasted the 1.5% drop observed in July. The 12-month sum of exports rose 5.6%. Conversely, imports contracted 2.1%, which contrasted the 1.1% rise recorded in July (12-month sum of imports: +7.1% year-on-year).
In 2013, FocusEconomics Consensus Forecast panelists expect exports to increase 3.4% to USD 237 billion. For 2014, panelists expect export growth to accelerate to 8.2%, which will push overseas sales to USD 256 billion.
Author: Dirina Mançellari, Senior Economist