Thailand trade balance enters negative territory
- Asian Market
- 8 months ago
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