Current account deficit increases in June

Latest reading: The current account posted a USD 2.0 billion deficit in June, deteriorating from the USD 0.8 billion deficit booked in May (June 2024: USD 0.8 billion surplus). Meanwhile, the 12-month trailing current account deficit widened, coming in at USD 18.9 billion in June (May: USD 16.1 billion deficit). The merchandise trade balance deteriorated from the previous month, recording a USD 6.5 billion shortfall in June (May: USD 4.8 billion deficit). Merchandise exports increased 9.3% year-on-year in June, following May’s 3.7% rise. Meanwhile, merchandise imports jumped 17.8% over the same month last year in June (May: +5.3% yoy), marking the strongest result since January 2023.

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