Thailand trade balance shifted to a USD 0.28 billion deficit in October 2018 from a USD 0.20 billion surplus in the same month a year earlier and worse than market consensus of a USD 0.19 billion gap. Year-on-year, imports jumped 11.23 percent to USD 22.04 billion, above market estimates of a 6.8 percent growth and after a 9.9 percent rise in September. Exports grew 8.7 percent to USD 21.76 billion, recovering from a 5.2 percent drop in a month earlier and beating expectations of a 4.5 percent gain. Considering the first ten months of 2018, the country posted a trade surplus of USD 2.55 billion, smaller than a surplus of USD 13.42 billion in the corresponding period of the prior year. Balance of Trade in Thailand averaged 30.40 USD Million from 1991 until 2018, reaching an all time high of 4974.14 USD Million in February of 2016 and a record low of -5916.16 USD Million in January of 2013.
Balance of Trade in Thailand is expected to be 970.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Thailand to stand at 793.00 in 12 months time. In the long-term, the Thailand Balance of Trade is projected to trend around 690.00 USD Million in 2020, according to our econometric models.