Thailand records current account surplus of US$3.4 billion in September

THAILAND recorded a current account surplus of US$3.4 billion in September, after a surplus of US$0.4 billion the previous month, the central bank said on Tuesday (Oct 31).

Exports, a key driver of growth, rose 1.0 per cent year on year in September, the Bank of Thailand (BOT) said in a statement.

The economy continued to recover in September as activities in the tourism sector increased in line with higher foreign tourist arrival numbers, the central bank said.

Economic activity in October was likely to increase along with domestic demand and tourism, the BOT said.

In the third quarter, South-east Asia’s second-largest economy continued to expand from the previous quarter on the back of private consumption and recovery in the service sector, the central bank said.

The economy expanded just 1.8 per cent in the April-June quarter from a year earlier, much slower than the previous quarter, weak exports and investment undercut strength in tourism. REUTERS