Thailand’s Trade Enters Deficit Territory in August

Thailand’s trade  turned deficit in August despite record-high exports, according to the Ministry of Commerce’s release on 22 September.

Last month, export soared 31.1% to $21.57 billion, driven by growth across sectors except toys. Export to Europe and Japan increased 26.7% and 25.5% respectively.  Import surged 44% to $22.77 billion, bringing total trade deficit to $1.20 billion.

In July, Thailand posted trade surplus of $2.8 billion.

During January to August, Thailand had trade surplus of $5.04 billion.

Export during the first eight months of this year grew 26.4% to $158.07 billion while import rose 28.5% to $153.02 billion.

For trade with seven FTA partners (Japan, India, China, Australia, New Zealand and South Korea), Thailand registered trade deficit of $1.63 billion in August and $4.08 billion for the first eight months of this year.

Piyarat Setthasiriphaiboon