Current account records narrower deficit in May

Latest reading: The current account recorded a USD 0.7 billion deficit in May, improving from the USD 7.9 billion deficit booked in April (May 2024: USD 0.6 billion deficit). Meanwhile, in the 12 months leading up to May, the current account posted a USD 16.0 billion deficit, widening slightly from to the USD 15.9 billion deficit clocked in April. The merchandise trade balance improved from the previous month, recording a USD 4.8 billion deficit in May (April 2025: USD 9.9 billion deficit). Merchandise exports rose 3.6% annually in May (April: +10.8% year-on-year). Meanwhile, merchandise imports expanded 5.3% on an annual basis in May (April: +16.0% yoy).

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