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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THAILAND
The customs trade surplus for September widened significantly more than expected to $2090mn from $360mn due to better-than-predicted export growth and weaker imports. Exports rose 2.1% y/y down from 2.6%, a contraction had been expected, and the Ministry of Commerce expects growth through to year end. Imports fell 8.3% y/y after -12.8% in August.
- Thai annual export growth turned positive in August. September’s second consecutive month of growth was driven by increased demand from China and also food shipments. The Ministry of Commerce said that drought in a number of other countries had increased orders for food grown in Thailand.
- Exports to China rose 14.4% y/y due to fruit, jewellery and computers & parts. China accounts for around 12% of total merchandise shipments, one of the lower shares in Asia, but they were worth a significant 6.9% of GDP in 2022. So, the improving export growth to China is good news for the Thai economy.
- Exports to the US fell 10% y/y, to the EU -9.3% and Japan -5%; they are all top 5 destinations for Thai goods.
Thailand customs trade y/y% 3mma
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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