Thailand Current Account Shifts to Deficit

Thailand’s current account surplus widened to USD 3.10 billion in December 2025 from USD 2.62 billion a year earlier, supported by broad-based improvements across major components. The trade surplus widened to USD 2.68 billion from USD 2.26 billion, as exports rose to USD 28.82 billion from USD 24.41 billion, while imports also increased to USD 26.15 billion from USD 22.15 billion. Net services, primary income, and secondary income improved to USD 0.42 billion from USD 0.36 billion. In addition, the financial account recorded a larger overall balance of USD 3.69 billion from USD 1.84 billion.

Thailand posted a current account deficit of USD 0.6 billion in November 2025, shifting from a surplus of USD 1.5 billion in the same month of the previous year. The shift was driven mainly by a reversal in the trade balance, which swung to a USD 0.22 billion deficit from a USD 2.38 billion surplus, as exports increased to USD 26.89 billion from USD 25.49 billion, while imports rose to USD 27.11 billion from USD 23.11 billion. In addition, the net shortfall in services, primary income, and secondary income narrowed to USD 0.36 billion in November 2025 from USD 0.83 billion a year earlier.

Thailand recorded a current account deficit of USD 1.78 billion in September 2025, compared with a surplus of USD 0.91 billion in the same month a year earlier. The shift was driven largely by a reversal in the trade balance, which swung to a USD 1.03 billion deficit from a USD 1.83 billion surplus, as imports surged 17.4% while exports rose at a softer pace of 5.2%. The financial account also posted an overall deficit of USD 0.48 billion, weighed down by outflows from the central bank. Meanwhile, the shortfall in services, primary income, and secondary income narrowed significantly to USD 0.75 billion from USD 0.92 billion in October 2024.