Economic activity has gradually improved, driven by tourism, as exports are not expected to improve before the end of the year, said Chayawadee Chai-Anant, deputy governor at the Bank of Thailand (BOT).
“In the period ahead, tourism is expected to continue to recover and remain a key driver, while exports are expected to be stable,” she told a press briefing.
Thailand posted a current account surplus of $1.4 billion in June, following a deficit of $2.8 billion in May, the BOT said.
Exports, the main driver of growth, fell 5.9% year-on-year in June, the same pace as in May.
Private consumption fell 0.3% in June from the previous month while private investment contracted 1.8% on the month, the BOT said.
In the second quarter of 2023, Southeast Asia’s second-largest economy showed a moderate improvement from the previous quarter as the number of overseas tourists increased and services and private consumption expanded, China said. central bank.
