Exports from Thailand declined unexpectedly by 1.72 percent year-on-year to USD 19.38 billion in December of 2018, missing market expectations of a a 0.4 percent gain and following a 0.95 percent drop in a month earlier. The decline was mainly due to lower sales of electronic products and gold. Outbound shipments to China contracted 7.3 percent, after a 8.9 percent fall in November. In contrast, sales to the US edged up 0.6 percent, following a 11.9 percent rise in a month earlier. Considering January to December 2018, exports grew 6.70 percent from a year earlier. For 2019, the government expects sales to grow by 8 percent, while the central bank estimates a 3.8 percent increase. Exports in Thailand averaged 10568.48 USD Million from 1991 until 2018, reaching an all time high of 22794.45 USD Million in August of 2018 and a record low of 1997 USD Million in February of 1991.
Exports in Thailand is expected to be 20850.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Thailand to stand at 21600.00 in 12 months time. In the long-term, the Thailand Exports is projected to trend around 22000.00 USD Million in 2020, according to our econometric models.