Free Trial
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.
THAILAND
The customs trade deficit widened in May to $1849mn whereas a significant narrowing was expected. Both imports and exports fell less than in April and less than expected at -3.4% y/y and -4.6% respectively.
- Exports were stronger than forecast due to increased demand for some food products and the weaker currency (USDTHB is up 3.5% since the May 14 election). Manufactured goods rose for the first time in 8 months by 1.5% y/y due to cars. Lower seasonal fruit exports weighed on total agricultural shipments which fell 27% y/y. Exports to China fell 1.5% y/y in May.
- The government expects better export growth in H2 because of increased food exports to China, recovering tourism and stronger global growth. It continues to forecast 2023 export growth of 1-2%. There are downside risks though from slower global growth and weather affecting food output.
Thailand exports vs imports 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok