Thailand Imports Rise More than Estimated

2024-10-28 04:01 By Farida Husna 1 min. read

Imports to Thailand increased by 9.9% yoy to USD 25.59 billion in September 2024, accelerating from an 8.9% rise in the prior month and exceeding market forecasts of 6.0%.

It was the fourth straight month of growth in purchases as domestic demand continued to recover amid sustained industrial activity.

Purchases grew for raw materials and semi-finished (25.7%), capital goods (13.8%), and consumer goods (9.7%), but shrank for fuel products (-11.3%) and vehicles and transport equipment (-36.6%).

Commodity-wise, imports expanded for jewelry, gems (229.9%), computer equipment (47.3%), circuit boards (29.6%), other metal ores, scrap metal (20.4%), and machinery & components (9.6%).

Conversely, purchases fell for crude oil (-3.1%), and iron, steel, and products (-2.9%).

Many of the materials Thailand imports are assembled into completed goods and shipped out again.

For the first nine months of the year, imports expanded by 5.5% to USD 229.13 billion.

In 2023, purchases dropped by 3.8%.



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