Thailand exports to have improved gradually

Thailand to release May customs-based trade data from 24-26 June. A gradual improvement in exports on firmer demand from the US and Cambodia, Lao PDR, Myanmar and Vietnam (CLMV) is expected. 

A weaker THB, following the Bank of Thailand's rate cuts in March and April, should also support the country's export price competitiveness.

"Exports were likely to have increased 13% m/m, although in y/y terms and may have contracted about 1.6% due to a high base effect, demand for imports is still slow; a trade surplus of USD 716mn is expected in May, versus a deficit of USD 523mn in April", estimates Standard Chartered.