Latest Development: Preliminary data published on November 15 showed the Japanese economy shrinking by a seasonally-adjusted 0.5% q-o-q (-2.1% annualised, +1.2% y-o-y). This was broadly in line with the 0.6% contraction expected by consensus, and marked the first fall in output this year.
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Export growth in July remained elevated but began to slow compared with the previous month.
In July 2025, Thailand’s merchandise exports valued at USD 28.6 billion rose 11% YOY, supported by strong US shipments. However, growth slowed from 15.5% in June, while imports grew 5.1%. Trade balance showed a surplus of USD 322.1 million.
