Thailand Trade Trends November 2023

According to preliminary data released by Thailand’s Ministry of Commerce on December 19, the country's exports grew by 4.9 per cent year-on-year in November 2023, rising for the fourth consecutive month, but slowing down after posting an 8 per cent increase in the previous month.

In the same period, imports expanded by 10.1 per cent year-on-year, exceeding market forecasts of 3 per cent, in line with the previous month reading, resulting in a trade deficit of USD 2.4 billion for the month.

November exports to the United States and Japan were higher year-on-year while those to China and Europe declined, data showed.

Despite recent challenges, Thai export growth in key markets signals a positive economic trajectory as the country continues to navigate global trade dynamics with resilience