Thailand registers a trade surplus as exports rise for the first time in five months

Thailand registered a trade surplus during the month of August as the country’s exports rose for the first time in five months, while imports contracted at a slower pace during the period.

Thailand’s exports in the months grew 6.5 percent on-year to USD18.82 billion, while imports registered a slower decline of 1.5 percent on year to USD16.69 billion, data released by the Ministry of Commerce showed Monday.

Moreover, for the period January to August, Thailand's exports fell 1.2 percent on-year to USD141.0 billion, while imports dipped 8.8 percent from a year ago to USD125.6 billion, resulting in a trade surplus of USD15.38 billion.

"On seasonally-adjusted terms, monthly imports are now trending some 35% lower than the start of 2013," said Gundy Cahyadi, Economist, DBS Bank.

However, many economists remain gloomy about Thailand’s trade prospects in the near term and its impact on the economy this year. Meanwhile, the nation’s growing current account deficit raises deeper concerns of a weak domestic demand, a factor that is likely to weigh on the economic growth performance of the country.