Thailand’s current account deficit of US$3.4 billion in April was the highest in nine years, owing to a smaller trade surplus and higher remittances of profits and dividends by foreign firms.
Exports increased by 6.6% year-on-year in April while imports were up 19.1%, resulting in a trade surplus of US$1.1 billion for the month.
Senior Bank of Thailand Director Chayawadee Chai-Anant said the central bank is closely monitoring rising product prices, production part shortages and tourism sector recovery. She added that bringing back tourists is critical to revitalizing the Thai economy.
The central bank will take these factors into account and revise its projections at its next monetary policy meeting on June 8, 2022. (NNT)
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