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Thailand Trade Surplus Reaches 18-Year High
Thailand's trade surplus reached $3.58 billion in February, its widest trade surplus in 18 years.
Thailand's trade surplus reached $3.58 billion in February, its widest trade surplus in 18 years. The widening of the trade surplus is attributed to the 40.3% drop in imports, its sharpest drop in 11 years. The decline in imports reflects lower demand for raw materials among manufacturers and falling oil prices. The large decline in imports, particularly of raw materials and capital goods, signals that manufacturing exports are likely to decline in the next few months. Exports, which account for 70% of the economy, sank for the fourth consecutive month by 11.3% from a year ago to $11.73 billion.read source article