The Curious Economist

Economic news for students

  • Home
  • Micro News
  • Macro News
  • IGCSE Economics
    • Teaching Resources
    • Key Concepts
    • Revision Questions
  • IB Economics
    • IB Economics Teaching Resources
    • Key Concepts
      • Micro
        • Supply and Demand
        • Market Failure
      • Macro
        • Economic Growth and AS/AD
        • Inflation
        • Unemployment
      • Global Economy
        • International Trade
        • Economic Development
    • Revision
      • Case Studies with Questions
      • Revision Lessons
      • Revision Questions
      • Economics Diagrams
        • Externalities
        • Market Structures
        • Economic Growth (AS/AD)
        • Protectionism
        • Exchange Rates
    • Real World Examples
      • RWEs by Topics
      • Real World Examples Top Trumps
    • Exam Technique
      • Intro to the IA
      • Model 15-Markers
      • IB Economics Paper 3 Exam Technique
  • IB Business Management
    • IB Business Management Teaching Resources
    • Revision Activities for IB Business Management
  • AI for Educators
    • The AI Classroom Chronicles
    • Poe for Educators
    • ChatGpt for Educators
    • Perplexity AI for Educators
    • AI ChatBots
  • About
News Ticker
  • [ April 29, 2025 ] Sugar Tax Shake-Up: UK Plans to Target Milkshakes and Dairy Drinks Economic News
  • [ April 21, 2025 ] China’s Economy Grows 5.4% — But Can It Withstand Trump’s Tariff Tsunami? Economic News
  • [ April 15, 2025 ] U.K. Government Seizes Control of British Steel Plant Economic News
  • [ April 10, 2025 ] U.S. Tariffs on China Surge Past 100% as Trump Escalates Trade War – but why? Economic News
  • [ March 28, 2025 ] Can Defense and Housing Turn the Tide on Sluggish GDP Growth in the UK? Economic News
HomeBalance of PaymentsThai Exports Struggle: Western Demand Slumps, China Begins Recovery

Thai Exports Struggle: Western Demand Slumps, China Begins Recovery

April 18, 2023 TheCuriousEconomist Balance of Payments, Economic News, The Global Economy Comments Off on Thai Exports Struggle: Western Demand Slumps, China Begins Recovery

Thai exports faced a 4.7% year-on-year (YOY) decline in February 2023, marking the fifth consecutive month of contraction. The drop in exports to the US and Europe was fueled by worsening economic conditions and growing uncertainty. However, exports to China showed signs of improvement, shrinking at a slower pace.

In February, Thai imports grew 1.1% compared to the previous year, resulting in a trade deficit of $1.11 billion. This marks the 11th consecutive month of trade deficit for Thailand. Despite the continuous contraction in exports, Thai imports demonstrated sustained demand, expanding in line with the country’s economic recovery.

Exports to the US market saw a sharp 9.5% contraction, while the European market (EU28) experienced a 0.5% decline. On the other hand, exports to China contracted by only 7.9%, the lowest in 8 months, suggesting a gradual recovery of demand from China.

Thai exports may be struggling, but there are glimmers of hope. With China’s demand slowly bouncing back and new potential markets emerging, the current account should start to improve in the coming months.

THINK LIKE AN ECONOMIST!

Q1. Define current account.

Q2. Explain one impact of a persistent trade deficit on Thailand.

Q3. Analyse the impact of a decrease in demand for Thai exports on the Thai Baht.

Q4. Evaluate a policy the government of Thailand could use to improve the Thai current account.

Click here for the source article

Share this:

  • Tweet
  • balance of payments
  • CURRENT ACCOUNT
  • GLOBAL ECONOMY
  • imports
  • Macroeconomics
  • thailand
Previous

Swap to Stop: A Bold New Plan to Snuff Out Cigarettes

supermarket aisle during panic buyingNext

UK Inflation on a Roll: Record Bread Prices Send Inflation Soaring

Related Articles

Aggregate Demand and Supply

Germany Unemployment Forecast for a Decade High

April 30, 2024 TheCuriousEconomist Aggregate Demand and Supply, Economic News, Inflation and Unemployment, Macro, The Labour Market Comments Off on Germany Unemployment Forecast for a Decade High

Germany is poised to witness a significant rise in unemployment, reaching levels not seen since 2015, with an expected peak of nearly 2.8 million jobless individuals this year. Despite the high figures, these numbers remain […]

Share this:

  • Tweet
Balance of Payments

China’s Export Surprise: A 7.5% Plunge in May Shakes Economic Predictions

June 7, 2023 TheCuriousEconomist Balance of Payments, Economic Growth, Economic News, The Global Economy Comments Off on China’s Export Surprise: A 7.5% Plunge in May Shakes Economic Predictions

In an unexpected economic twist, China’s exports fell by 7.5% in May, a far more significant drop than the predicted 0.4%. This is the first decline since February, raising concerns about the health of the […]

Share this:

  • Tweet
Aggregate Demand and Supply

Pakistan registers a Q3 current account deficit of $3.4 billion

October 24, 2021 TheCuriousEconomist Aggregate Demand and Supply, Balance of Payments, Economic News, The Global Economy Comments Off on Pakistan registers a Q3 current account deficit of $3.4 billion

The economy of Pakistan has released figures showing there was a current account deficit of $3.4 billion in Q3. This is up by just under $1 billion from their Q2 figure. Although such a large […]

Share this:

  • Tweet

Please follow & like us :)

RSS
Facebook
Facebook
fb-share-icon
Twitter
Visit Us
Follow Me

Recent Posts

  • Sugar Tax Shake-Up: UK Plans to Target Milkshakes and Dairy Drinks
  • China’s Economy Grows 5.4% — But Can It Withstand Trump’s Tariff Tsunami?
  • U.K. Government Seizes Control of British Steel Plant
  • U.S. Tariffs on China Surge Past 100% as Trump Escalates Trade War – but why?
  • Can Defense and Housing Turn the Tide on Sluggish GDP Growth in the UK?
  • PepsiCo Plans $1.95 Billion Poppi Acquisition
  • South Africa Unveils $54.5 Billion Infrastructure Plan to Boost Growth
  • Canada Pulls U.S. Alcohol from Shelves in Retaliation for Trump Tariffs
  • U.S. Economy on Track for Contraction as Spending and Exports Decline
  • India’s Consumer Market Shrinks as Wealth Inequality Deepens

Tags

A-Level aggregate demand AI business behaviour BUSINESSES China Consumer Behaviour CONSUMPTION coronavirus COSTS CURRENT ACCOUNT DEMAND ECONOMIC GROWTH ENVIRONMENT Export externalities FDI fiscal policy gdp GLOBAL ECONOMY Government intervention government policy government spending IGCSE India INFLATION INTEREST RATE investment jobs LABOUR labour market Macroeconomics MARKET FAILURE Microeconomics MONETARY POLICY OIL prices protectionism SDGs SUPPLY Tax trade UK UNEMPLOYMENT USA

Most Read Article

Balance of Payments

Kenya and the US look set to sign a free-trade deal despite Trump’s attacks on global trade

February 7, 2020 Comments Off on Kenya and the US look set to sign a free-trade deal despite Trump’s attacks on global trade

Under President Trump, the US stance towards global trade has become increasingly protectionist, with billions of dollars of tariffs placed on goods from countries all over the world, engagement in a devastating trade war with […]

Share this:

  • Tweet
Economic News

U.K. Government Seizes Control of British Steel Plant

April 15, 2025 Comments Off on U.K. Government Seizes Control of British Steel Plant

It’s a dramatic move—but one the U.K. government believes is essential for national economic security. In an extraordinary step, the government has taken control of British Steel’s Scunthorpe plant under emergency legislation to prevent its […]

Share this:

  • Tweet

SGD News

Economic News

India’s Consumer Market Shrinks as Wealth Inequality Deepens

February 27, 2025 Comments Off on India’s Consumer Market Shrinks as Wealth Inequality Deepens

India’s consumer market is far smaller than its population suggests, with only about 130-140 million people able to spend on non-essential goods, according to a report by Blume Ventures. Despite a population of 1.4 billion, […]

Share this:

  • Tweet

Copyright © 2025 | MH Magazine WordPress Theme by MH Themes