Exports from Thailand declined by 5.79 percent year-on-year to USD 21.02 billion in May 2019, worse than market estimates of a 3.6 percent drop and faster than a 2.57 percent fall in the previous month. This marked the third straight month of yearly drop in overseas sales, amid weakening global demand and persistent trade dispute between Washington and Beijing. Sales contracted mainly for cars and parts, electronics and oil. Exports to China fell by 7.2 percent, while those to the US grew 7.8 percent. Considering the January to May period, exports contracted 2.7 percent compared to the same period the prior year. The government recently revised lower 2019 export growth outlook to 2.2 percent from an earlier projections of 4.1 percent. Exports in Thailand averaged 10712.47 USD Million from 1991 until 2019, 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 20990.00 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 22600.00 in 12 months time. In the long-term, the Thailand Exports is projected to trend around 23400.00 USD Million in 2020, according to our econometric models.