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THAILAND
Thailand’s customs-based trade deficit narrowed a lot more than expected in September to US$853mn from US$4215mn. Exports rose more than expected and imports less than expected.
- Customs exports rose 7.8% y/y after 7.5% y/y in August. Growth had been expected to slow. Export growth has moderated as Covid-related base effects drop out but has remained solid supported by the post-pandemic recovery, the weaker Thai baht and the easing of semiconductor shortages (electronics are Thailand’s second largest export).
- Customs imports moderated to 15.6% y/y in September from 21.3% y/y. Import growth has remained solid and is still at elevated growth rates, as consumption recovers and the manufacturing PMI is at a record high.
Thailand trade balance, customs basis 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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