Thailand's merchandise trade deficit decreased from the previous month in May, data released by the Ministry of Commerce showed Monday.
The trade deficit dropped to $1.74 billion in May from $2.87 billion in April. Economists were looking for a trade deficit of $1.2 billion.
Exports of goods increased 7.68 percent on an annual basis to $20.93 billion in May, significantly faster than the 0.65 percent gain economists forecast.
At the same time, imports surged 18.17 percent annually to $22.67 billion. Economists expected the value of arrivals to grow 8 percent.
The Thai central bank last week retained its benchmark policy rate unchanged at 3 percent saying that the heightened global economic risks paused downside risks to the economy's growth prospects.
by RTT Staff Writer
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