BANGKOK: Thailand’s trade surplus narrowed significantly in January, as import declines outpaced the contraction in exports amid a global slowdown and weak energy prices, the commerce ministry said Thursday.
Based on raw customs data, the country’s trade surplus was $238 million in January, plunging from $1.48 billion in December. The lower trade surplus came in the wake of an 8.9% decline in Thailand’s overseas shipments to $15.71 billion from the previous year and a 12.4% contraction in imports to $15.47 billion. In December, the country’s exports and imports fell 5.8% and 9.2%, respectively.