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Thailand trade balance enters negative territory

  • Regular
  • Asian Market
  • 3 months ago
  • 139

Thailand’s exports have continued to fall in April due to a decrease in regional demand and subsequently have sent the country’s economy into a deficit once again.

Exports retreated by 2.57% year on year in April which is slightly higher than the predicted 2.5% fall by analysts, at the same time it did point to a moderation to the previous month’s decline of 4.8%.

Imports, too did slip to 0.7% which was slightly lower than the analysts expected figure and very much like exports, an improvement from the previous month’s drop of 4.6%.

Due to this Thailand’s trade balance has fallen into negative territory, marking a deficit of $1.46 billion after two consecutive months of surpluses.

The country’s weak export performance has taken a toll on the economic growth, with GDP declining to its slowest pace in more than 4 years.

 

 

Source: Smart Trend Team