Thailand's Trade Deficit Shrinks in MayThursday, June 26, 2014 > 09:38:47
(MarketWatch – Warangkana Chomchuen)
Thailand's trade deficit in May was $809 million compared with $1.45 billion in April, the Ministry of Commerce said Thursday.
Exports contracted again in May – falling 2.14% year over year to $19.4 billion, the ministry's Department of International Trade Promotion Director General Nuntawan Sakuntanaga said. This was a result of lower demand and price falls for rubber and sugar and a shortage of shrimp, Ms. Nuntawan said.
Imports fell 9.32% to $20.2 billion on declines in motor vehicles, motor-vehicle parts and raw materials. It was the 10th consecutive month of contraction but its rate eased from April, according to ministry's data.
In the five months to the end of May the trade deficit was $1.56 billion. Exports fell 1.22% and imports 14%.