Thailand Current Account Surplus Narrows Sharply

Thailand's current account surplus narrowed sharply to USD 2.1 billion in February 2026 from USD 6.4 billion in the same month of the previous year. The trade surplus decreased significantly to USD 0.6 billion from USD 4.7 billion in February 2025, with exports climbing 10.6% while imports surged 31.7%. Moreover, net services, primary income, and secondary income surplus fell to USD 1.5 billion from USD 1.8 billion. In the financial account, the overall balance slightly rose to USD 0.4 billion in February 2026 from USD 0.2 billion a year earlier, supported by the general government, which posted a surplus of USD 0.2 billion from a deficit of USD 2.3 billion, as well as the other depository corporations’ surplus rising to USD 3 billion from USD 1.3 billion.

Thailand’s current account surplus narrowed to USD 0.72 billion in January 2026, down sharply from USD 3.74 billion a year earlier. The trade balance swung to a deficit of USD 0.74 billion from a surplus of USD 0.68 billion, as exports rose to USD 31.05 billion from USD 25.13 billion, while imports jumped to USD 31.79 billion from USD 24.44 billion. Net services, primary income, and secondary income fell to USD 1.46 billion from USD 3.06 billion. In the financial account, the overall balance decreased to USD 2.19 billion from USD 4.19 billion, driven by central bank inflows of USD 0.23 billion (vs 0.16 billion), general government outflows of USD 0.84 billion (vs inflows of 0.19 billion), and other depository corporations outflows of USD 2.25 billion (vs -2.50 billion).

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.