Current account posts larger deficit in February

Latest reading: The current account recorded a USD 4.4 billion deficit in February, deteriorating from the USD 4.0 billion deficit recorded in January (February 2024: USD 3.3 billion deficit). Meanwhile, the 12-month trailing current account deficit worsened, coming in at USD 12.8 billion in February (January: USD 11.8 billion deficit). The merchandise trade balance deficit was unchanged at January’s USD 5.7 billion in February. Merchandise exports climbed 2.0% in annual terms in February, following January’s 7.1% increase. Meanwhile, merchandise imports expanded 5.7% on an annual basis in February (January: +11.5% yoy).

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