Thailand's trade deficit declined to USD 0.55 billion in February 2024 from USD 1.11 billion in the same month of 2023, roughly in line with market forecasts, as exports grew more than imports. Shipments rose 3.6% from a year earlier, growing for the seventh consecutive month despite the rate of increase softening sharply from a 10% jump in January. Meantime, purchases grew 3.2%, accelerating from a 2.6% rise in the prior month and exceeding market forecasts of 1.5%. In the first two months of the year, the trade balance posted a deficit of USD 3.31 billion, with exports and imports rising by 6.7% and 2.9%, respectively. Last year, the trade shortfall stood at USD 5.2 billion as exports fell by 1% while imports dropped at a steeper 3.8%. source: Ministry of Commerce, Thailand

Thailand recorded a trade deficit of 553.99 USD Million in February of 2024. Balance of Trade in Thailand averaged 56.93 USD Million from 1991 until 2024, reaching an all time high of 4974.14 USD Million in February of 2016 and a record low of -5916.16 USD Million in January of 2013. This page provides the latest reported value for - Thailand Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Thailand Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Thailand recorded a trade deficit of 553.99 USD Million in February of 2024. Balance of Trade in Thailand is expected to be 350.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand Balance of Trade is projected to trend around -3000.00 USD Million in 2025 and -5000.00 USD Million in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-23 03:30 AM
Balance of Trade
Jan $-2.76B $0.97B $-1.54B
2024-03-26 03:30 AM
Balance of Trade
Feb $-0.55B $-2.76B $-0.56B $-0.8B
2024-04-29 03:30 AM
Balance of Trade
Mar $-0.55B $ -0.4B


Related Last Previous Unit Reference
Balance of Trade -553.99 -2757.90 USD Million Feb 2024
Exports 23384.86 22649.88 USD Million Feb 2024
Imports 23938.85 25407.78 USD Million Feb 2024
Imports YoY 3.20 2.60 percent Feb 2024

Thailand Balance of Trade
As an export oriented country, Thailand is highly exposed to external economic shocks, which lower demand for Thai products, thus affecting the trade balance. Thailand major exports are electronics, vehicles, machinery and equipment. The country mainly imports fuel, electronic and machinery appliances. Main trading partner are Japan (10 percent of total exports and 20 percent of total imports) and China (12 percent of total exports and 15 percent of total imports). Others include: the European Union, the United States and Malaysia.
Actual Previous Highest Lowest Dates Unit Frequency
-553.99 -2757.90 4974.14 -5916.16 1991 - 2024 USD Million Monthly
Current Prices, NSA

News Stream
Thailand Trade Gap Narrows in February
Thailand's trade deficit declined to USD 0.55 billion in February 2024 from USD 1.11 billion in the same month of 2023, roughly in line with market forecasts, as exports grew more than imports. Shipments rose 3.6% from a year earlier, growing for the seventh consecutive month despite the rate of increase softening sharply from a 10% jump in January. Meantime, purchases grew 3.2%, accelerating from a 2.6% rise in the prior month and exceeding market forecasts of 1.5%. In the first two months of the year, the trade balance posted a deficit of USD 3.31 billion, with exports and imports rising by 6.7% and 2.9%, respectively. Last year, the trade shortfall stood at USD 5.2 billion as exports fell by 1% while imports dropped at a steeper 3.8%.
2024-03-26
Thailand Trade Gap Narrows in January
Thailand's trade deficit narrowed to USD 2.76 billion in January 2024 from USD 4.65 billion in the same month of 2023, compared to market forecasts of a USD 1.54 billion deficit, as exports grew much more than imports. Shipments jumped by 10% from a year earlier, rising for the sixth consecutive month and the fastest pace since June 2022, accelerating sharply from a 4.7% rise in December, mainly boosted by higher shipments of agricultural and agro-industrial products (9.2%). Meantime, purchases rose 2.6%, recovering from a 3.1% fall in the prior month. In 2023, the country registered a deficit of USD 5.2 billion, with exports and imports declining by 1% and 3.8%, respectively.
2024-02-23
Thailand Unexpectedly Posts Trade Surplus
Thailand unexpectedly posted a trade surplus of USD 0.97 billion in December 2023, shifting from a deficit of USD 1.03 billion in the same month a year before, compared to forecasts of a 1.47 billion gap. It was the first trade surplus in three months, as exports grew while imports fell. Shipments advanced by 4.7% from a year earlier, rising for the fifth consecutive month but below market forecasts of a 6.0% growth after a 4.9% gain in November, supported by higher shipments of agro-industrial and industrial products. Among major trading partners, exports grew to the US (0.3%), China (2%), and the ASEAN countries (18.0%). Meantime, purchases unexpectedly dropped 3.1%, reversing a 10.1% jump in the prior month, missing estimates of a 7.2% rise. For the full year, the country registered a deficit of USD 5.2 billion, with exports and imports shrinking by 1% and 3.8%, respectively.
2024-01-26