Thai April exports fall 2.57% y/y, in line with forecast

Thai April exports fall 2.57% y/y, in line with forecast

Thailand's customs-cleared exports fell 2.57% in April from a year earlier, after contracting 4.88% in March, due mainly to reduced shipments of electronics, the Commerce Ministry said on Wednesday.

The April decline compared with a Reuters poll forecast of 2.5% drop in shipments, the main driver of Thai growth.

Shipments to China fell 5% in April from a year earlier, while ones to the United States rose 4.7%, a ministry official said.

In April, imports dropped 0.72% from a year earlier, after declining 7.63% in March. The poll forecast was for a fall in April of 4.6%.

April had a trade deficit of US$1.46 billion, compared with a forecast of a $490 million deficit, and March's $2 billion surplus.

In January-April, exports contracted 1.86% from a year earlier while imports declined 1.08%. 

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