Thailand’s customs-based trade data for February will be tentatively released over 23-25 March.Standard Chartered notes…
- We believe falling global oil prices will continue to benefit Thailand’s trade account through lower import values of energy products, given its large net oil importer status.
- The recovery in exports could, however, remain sluggish in February due to weak demand from China and the ASEAN countries, and the expiration of the European Union’s Generalised Scheme of Preferences (GSP).
- We therefore expect Thailand to report a moderate trade surplus of about USD 574mn in February, upfrom the USD 457mn deficit in January.
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