Thailand Current Account Surplus Narrows

Thailand’s current account surplus narrowed sharply to USD 0.6 billion in March 2026, from USD 1.8 billion in the same month a year earlier. The trade account shifted into a deficit of USD 0.1 billion, compared with a surplus of USD 3.7 billion previously, as imports (USD 34.9 billion) outpaced exports (USD 34.7 billion). In contrast, net services, primary income, and secondary income returned to a surplus of USD 0.7 billion, reversing a deficit of USD 1.8 billion in March 2025. On the financial account, the overall balance deficit widened to USD 1.2 billion in March 2026 from USD 1.0 billion a year earlier, weighed down by a sharp increase in outflows from other depository corporations, which rose to USD 3.5 billion from USD 1.7 billion.

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).