Thailand: Merchandise exports drop in March
Merchandise exports dived 10.2% in annual terms in March (February: +2.6% year-on-year). March’s result marked the sharpest contraction since December 2022. Meanwhile, merchandise imports rose 5.1% over the same month last year in March (February: +3.2% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.0 billion surplus in March (February 2024: USD 1.7 billion surplus; March 2023: USD 4.9 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 14.1 billion surplus in March, compared to the USD 18.0 billion surplus in February.