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Thai exports contracted for a fifth straight month in February

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The value of Thai merchandise exports in February 2023 contracted -4.7%YOY, marking a five-month consecutive contraction.

Exports to the U.S. and Europe 28 worsened as economic conditions and uncertainty increased. Meanwhile, exports to China shrank less.

The overall picture of the Thai export market in February is very different. Exports to western markets deteriorated in line with worsening economic conditions and increasing uncertainties.

In February, imports rose 1.1% from a year earlier, resulting in a trade deficit of US$1.11 billion for the month.

The value of Thai imports in February was 23,489.7 million US dollars, growing 1.1%, slowing down from 5.5% in the previous month. (Which is a product that does not reflect actual international trade) found that it grew by 3.4%, reflecting the still sufficient demand for imports and expanding in line with the Thai economic recovery trend. While the value of exports continued to contract in line with the global economic slowdown, resulting in a trade balance in the customs system in February deficit of -1,113.4 million US dollars. This was the 11th consecutive month of deficit.

Source link : Thai exports contracted for a fifth straight month in February by Boris Sullivan

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