Thailand Balance of Trade

Last Release

Jul 31, 2024

Actual

-1,373.2

Units In

USD Million

218

Frequency

Monthly

Next Release

Sep 25, 2024

Time to Release

26 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
4,974.14 Feb 2016	-5,916.16 Jan 2013	43.52 USD Million	1991-2024	N/A

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.

Latest Updates

Thailand's trade deficit declined to USD 1.37 billion in July 2024 from USD 1.98 billion in the same month of the previous year and compared with market forecasts of a USD 0.52 billion shortfall. It was the first trade gap in three months amid a surge in imports. Exports rose 15.2% from a year earlier to USD 25.72 billion, rebounding sharply from a 0.3% drop in June and beating market estimates of a 6% rise, pointing to the fastest pace since March 2022. In the meantime, purchases grew by 13.1% to USD 27.09 billion, the sixth time of growth year to date, and accelerating sharply from 0.3% growth in the previous month. For the first seven months of 2024, the trade balance registered a deficit of USD 6.62 billion, with exports (3.8%) advancing less than imports (4.4%).