Thailand exports climbed 15.6% in October

Rebound attributed to base effects from flooding.

BBVA notes that Thailand's exports climbed by 15.6% y/y in October (consensus: 20.0%) from 0.2% y/y the prior month on a strong base effect, as October last year was the first month in which exports were dragged down by enormous flooding in the country.

"For Thailand, the focus will now turn to the Bank of Thailand’s (BoT) policy meeting on Wednesday, where we expect a 25 bps cut given weak exports and low inflation, though it will be a very close call - the BoT may hold off for now in order to see whether the external environment improves," it added.

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