Thailand exports expected to have improved gradually

Thailand will release May customs-based trade data from 24-26 June. A gradual improvement is expected in exports on firmer demand from the US and Cambodia, Lao PDR, Myanmar and Vietnam (CLMV). 

A weaker Thai baht (THB), following the Bank of Thailand's rate cuts in March and April, should also support the country's export price competitiveness. Exports are expected to have increased 13% m/m, although in y/y terms they may have contracted about 1.6% due to a high base effect. 

"Thailand's demand for imports is still slow; we expect a trade surplus of USD 716mn in May, versus a deficit of USD 523mn in April",says Standard Chartered.