Thailand’s trade in May 2024, as reported by FocusEconomics: Thailand Trade May 2024-Export Growth
Economic Outlook Thailand-May 2024

1. Thailand trade forecast 2024
2. Thailand economic outlook May 2024
3. Thailand trade analysis FocusEconomics

In May, Thailand’s merchandise exports saw a 7.8% annual increase, the fastest growth since September 2022. On the other hand, merchandise imports contracted by 2.4% year-on-year, marking the weakest result since September 2023. This led to an improved merchandise trade balance with a USD 2.8 billion surplus in May. The 12-month trailing merchandise trade balance also improved to a USD 16.4 billion surplus. Overall, Thailand’s export sector showed positive momentum in May, indicating a strong performance in the global market. The country continues to benefit from its export-oriented economy, with a promising outlook for the future.

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Thailand’s merchandise exports showed strong growth in May, with a 7.8% increase compared to the previous year. This acceleration in exports marks the fastest growth since September 2022, indicating a positive trend in the country’s trade performance. On the other hand, merchandise imports contracted by 2.4% in May, the weakest result since September 2023, highlighting a slowdown in domestic demand for foreign goods.

The improvement in the merchandise trade balance in May is particularly noteworthy, with a surplus of USD 2.8 billion recorded. This marks a significant improvement from the previous month’s surplus of USD 0.3 billion and the May 2023 surplus of USD 0.4 billion. Additionally, the 12-month trailing merchandise trade balance also showed a surplus of USD 16.4 billion in May, up from USD 14.0 billion in April, indicating a strengthening trade position for Thailand.

These positive developments in Thailand’s trade performance can be attributed to various factors, including recovering global demand, increased competitiveness of Thai products, and ongoing efforts to boost export-oriented industries. The country’s exports have been supported by strong demand for electronics, automotive products, and agricultural goods, among others.

It is worth noting that the global economic environment has been relatively favorable for Thailand’s exports, with major trading partners such as the United States, China, and the European Union experiencing robust economic growth. This has provided a solid foundation for Thailand’s export-oriented industries to expand their market share and capitalize on growing demand for their products.

Looking ahead, Thailand’s trade outlook remains positive, with expectations of continued growth in merchandise exports supported by improving global economic conditions. However, challenges such as supply chain disruptions, rising input costs, and geopolitical uncertainties could pose risks to the country’s trade performance in the coming months.

In conclusion, Thailand’s merchandise exports showed strong growth in May, with a 7.8% increase compared to the previous year. This positive trend is supported by improving global demand, increased competitiveness of Thai products, and ongoing efforts to boost export-oriented industries. The country’s trade balance also improved significantly in May, with a surplus of USD 2.8 billion recorded. As Thailand continues to navigate the challenges and opportunities in the global trade environment, its export-oriented industries are well-positioned to capitalize on growing demand and contribute to the country’s economic recovery.

Source: [FocusEconomics](https://www.focus-economics.com/countries/thailand)

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