Thailand: Merchandise exports decrease at a softer pace in July
Merchandise exports fell 6.2% in annual terms in July (June: -6.4% year-on-year). Meanwhile, merchandise imports plummeted 11.0% on an annual basis in July (June: -10.3% yoy), marking the weakest reading since December 2022.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.0 billion deficit in July (June 2023: USD 0.1 billion surplus; July 2022: USD 3.5 billion deficit). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 14.7 billion deficit in July, compared to the USD 16.3 billion deficit in June.