Current Account in Thailand
Thailand - Current AccountThe economic panorama remains subdued in Q3, following a deep contraction in Q2 as the pernicious effects of the pandemic pummeled private consumption and exports. That said, data for Q3 points to an improving situation, with the decline in manufacturing output and merchandise exports softening notably in July, while business and consumer confidence continued to climb higher in July–August. Moreover, the manufacturing PMI for August, albeit still indicating a mild deterioration in conditions, hit its highest level since January. However, a sharp reduction in tourism bodes ill for the external sector, with plans to open the country to international visitors still some weeks away. As such, the government is planning additional stimulus measures to help boost household spending, although its attention is being diverted by continued protests calling for constitutional reform and greater democratic freedoms.
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 3, 2020
Consumer prices rose 0.29% over the previous month in August, which was below the 0.66% rise seen in July.
August 28, 2020
On an annual basis, manufacturing production dived 14.7% in July, although this was notably better than June’s 17.8% fall.
August 24, 2020
Merchandise exports fell 11.4% over the same month last year in July, softening from June’s 23.2% dive.
August 17, 2020
GDP declined at a more pronounced pace of 12.2% year-on-year in the second quarter, below the 2.0% contraction recorded in the first quarter.
August 6, 2020
Consumer prices increased 0.66% in July over the previous month, slowing from June's 1.56% rise.