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Thai Economy Sees First Current-Account Deficit Since 1997.
Byline: Darana Chudasri
Jun. 1--The economy showed improving signs of a recovery in April but the first current-account deficit since August 1997 was a concern, according to the Bank of Thailand.
The current account was $119 million in the red in April, due mainly to high imports of capital goods, said Atchana Waiquamdee, senior director of the central bank's Monetary Policy Group.
Export value in April rose for the first time in 11 months, by 1.1 percent, to US$4.77 billion, but imports grew by 3.8 percent, to $5.04 billion. The trade balance posted a deficit of $265 million in the month.
It was premature to predict the future trend ...
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Source: HighBeam Research, Thai Economy Sees First Current-Account Deficit Since 1997.