Current Account in Thailand
Thailand - Current AccountGDP growth accelerated in annual terms in the first quarter, supported by recovering tourist numbers due to the relaxation of Covid-19 restrictions. Activity is seemingly continuing to expand at a healthy rate in the second quarter. In April, annual private consumption growth strengthened from the previous month. Moreover, in April-May the manufacturing PMI remained in expansionary territory, while the Central Bank stated that economic activity improved in May amid receding concerns about the pandemic and easing restrictions. That said, in April the current account registered the widest deficit in nine years due to a notable slowdown in export growth, likely prompted by China’s lockdowns. Meanwhile, parliament passed the first reading of the USD 93 billion draft budget for 2023, which plans for a USD 20 billion deficit and an expansionary fiscal stance to support the post-Covid-19 economic recovery.
Thailand - Current Account Data
|Current Account (% of GDP)||6.9||10.5||9.6||5.6||7.0|
5 years of economic forecasts for more than 30 economic indicators.
Thailand Current Account Chart
Source: Bank of Thailand and FocusEconomics calculations.
|Exchange Rate||30.11||0.17 %||Dec 30|
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September 8, 2022
Inflation came in at 7.9% in August, which was up from July’s 7.6%.
September 6, 2022
Consumer prices rose 0.05% from the previous month in August, contrasting the 0.16% drop seen in July.
August 22, 2022
Growth sped up in the second quarter, with GDP increasing 2.5% on an annual basis (Q1: +2.3% year on year).
August 12, 2022
At its 10 August meeting, the Monetary Policy Committee (MPC) of the Bank of Thailand (BoT) hiked the policy rate to 0.75% from a record-low of 0.50%.
August 8, 2022
Consumer prices fell 0.16% in July over the previous month, contrasting the 0.90% increase logged in June.