Thailand: Merchandise exports increase in August
Merchandise exports increased 2.6% in annual terms in August (July: -6.2% year-on-year). August’s result marked the fastest expansion since September 2022. Meanwhile, merchandise imports plunged 12.8% in annual terms in August (July: -11.0% yoy), marking the weakest result since December 2022.
As a result, the merchandise trade balance improved from the previous month, recording a USD 0.4 billion surplus in August (July 2023: USD 2.0 billion deficit; August 2022: USD 3.7 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 10.6 billion deficit in August, compared to the USD 14.7 billion deficit in July.