Thailand Reports Larger-Than-Expected Drop in Exports by 10.9% in March

Thailand’s customs-cleared exports for March dropped sharply by 10.9% from the same period of last year (YoY), according to the official announcement by the Commerce Ministry.

The drop was much larger than a forecast for a contraction of 4.50% in a Reuters poll.

Meanwhile, customs-cleared imports for March rose 5.6% YoY, compared to a 4.55% rise in a Reuters poll. The trade balance for March was a deficit of 1.16 billion dollars, compared to a 0.82 billion dollars of surplus expected in a Reuters poll.