Thai Exports in 2020 Beat All Expectations to Report Lower Contraction at 6.01%!

The Ministry of Commerce (MOC) has announced that Thai exports in December of last year expanded 4.71%, beating an expectation of 1.3% – 2.4% contraction, while imports increased 3.62%. In December 2020, Thailand had a trade surplus of 963.58 million dollars.

As for 2020, MOC revealed that Thai exports contracted 6.01%, beating the forecast of 7.5% contraction by Office of the National Economic and Social Development Council (NESDC) and a 7.4% contraction, forecasted by the Bank of Thailand (BOT). Imports contracted by 12.39%. Thailand had a trade surplus of 24,476.55 million dollars in 2020.