Thailand Trade Balance June 2022

Merchandise exports soared 11.8% annually in June, on the heels of May’s 10.5% upturn. Meanwhile, merchandise imports shot up 24.5% on an annual basis in June (May: +24.1% yoy), marking the strongest reading since December 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 1.5 billion deficit in June (May 2022: USD 1.9 billion deficit; June 2021: USD 1.2 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 5.0 billion deficit in June, compared to the USD 2.3 billion deficit in May.

FocusEconomics panelists project exports to grow 5.0% in 2022 and imports 7.6%, which would bring the trade surplus to USD 36.1 billion. In 2023, exports and imports are expected to increase 5.0% and 5.8% respectively, with the trade surplus at USD 36.1 billion.