Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 714 Thu. June 01, 2006  
   
Business


Thailand posts current account deficit in April


Thailand posted a current account deficit in April, hit by soaring costs of oil imports and a slowdown in export growth, the central bank said Wednesday.

The deficit stood at 283 million dollars, marking the first current account shortfall in nine months, the Bank of Thailand said, but adding the figure sharply narrowed from a current account deficit of 1.5 billion dollars in April last year.

"We took the deficit mainly due to high oil imports. Although the value of exports rose year-on-year, it came lower than the import value due to a slowdown in production," said a central bank official.

Exports in April increased 11.8 percent from a year earlier to 9.1 billion dollars and imports slipped 2.1 percent to 9.6 billion dollars, resulting in a trade deficit of 520 million dollars.