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Thailand trade balance hits US$187.5m deficit in July

Thailand trade balance hits US$187.5m deficit in July

BANGKOK: After two years, Thailand saw its first trade deficit of US$187.5m in July, UOB said in a review.

Imports growth rose to 18.5% YoY in July, up from 13.7% in June.

Export growth failed to meet expectations with a rate of 10.5% against the expected 12%.

Agriculture brought in higher shipments with 29.5% growth. On the downside, industry-related exports shrank to 8.6% from last month’s 11.6%.

“Despite the surprising trade deficit, we note that this could aid in capping future THB strength, especially if trade deficits persist into the year,” UOB said.