Thailand’s exports rose 7.0% in August, exceeding forecasts. Imports increased 8.9%, leading to a trade surplus of $0.26 billion, indicating a positive economic outlook despite a stronger baht.
Thailand’s customs-cleared exports rose by 7.0% year-on-year in August, exceeding analysts’ expectations, according to the commerce ministry. This growth surpassed the 5.8% forecast from a Reuters poll and followed a strong 15.2% increase in July.
Despite the appreciating baht, the Commerce Ministry is optimistic, projecting a 2% growth in exports for 2024. Additionally, customs-cleared imports saw an 8.9% year-on-year increase, outpacing the 7.3% forecast.
Furthermore, Thailand’s trade balance in August showed a surplus of $0.26 billion, contrasting with the anticipated deficit of $0.07 billion. This positive balance reflects Thailand’s solid position in international trade and bolsters its economic outlook.
Source : Thailand’s August Exports Beat Expectations, 2% Annual Target Maintained despite Baht Appreciation
