Trade deficit remains unusually high at $5.7 billion as imports jump by 35%
The dollar value of Thailand’s exports rose 10.6% in May from a year earlier, the Ministry of Commerce said on Thursday, slightly lower than analysts’ expectations.The May reading compared with a forecast rise of 12% in a Reuters poll and followed an increase of 23.1% the previous month.
The dollar value of imports rose by 35.1% in May from a year earlier.
Thailand recorded a trade deficit of $5.71 billion for the month, compared with $6.12 billion forecast by those polled.
The ministry expects exports to post full-year growth of 8%, supported by easing global tensions and strong demand for technology products, said Nantapong Chiralerspong, head of the ministry’s Trade Policy and Strategy Office.
