Thailand: Trade deficit widens in July, exports up but manufacturing disappoints
Thailand recorded a current account deficit of $4.1 billion in July after a deficit of copy.9 billion the previous month, the Bank of Thailand said on Wednesday.
Exports, a key driver of growth, rose 3.4% in July from a year ago, with imports up 25.3% year-on-year and a trade deficit of $0.4 billion, it said.
Meanwhile, Thailand’s manufacturing production index (MPI) in July rose 6.37% from a year earlier, helped by improved economic activity and last year’s low base, the industry ministry said on Wednesday, missing analysts’ expectations.
That compared with a forecast rise of 8.4% in factory output for July in a Reuters poll, and after June’s revised 0.2% drop year-on-year.