Thailand's Current Account Surplus Narrows In Q2

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Thailand's current account surplus in the second quarter was $2.29 billion, down from a surplus of $2.40 billion in the first quarter, the Bank of Thailand said Friday.

The trade balance recorded a $3.89 billion surplus in the second quarter, as imports fell 32.3% year-on-year and exports plunged 26.1%.

In June, the current account surplus was $477 million, smaller than $1.39 billion surplus recorded in May. The trade balance registered a surplus of $939 million. Export value slumped 26.4% year-on-year and import value dropped 26.3%.

The central bank said manufacturing production contracted 7.8% year-on-year in June and the capacity utilization rate was at 60.4%, close to that of the previous month.

In the second quarter of 2009, the manufacturing production fell 9.1% year-on-year, notably less than the first quarter's contraction of 18.5%.

Thailand's current account surplus in the second quarter was $2.29 billion, down from a surplus of $2.40 billion in the first quarter, the Bank of Thailand said Friday. (Market News Provided by RTTNews)