Thai June exports slump 24.6%, current account turns red

BANGKOK: Thailand recorded a current account deficit of US$247 mil (RM1.05 bil) in June, after a surplus of US$64 mil in the previous month, the central bank said on Friday.

Exports, a key driver of growth, dropped 24.6% in June from a year earlier, after May’s 23.6% decline.

The economy in June improved from the previous month due to the easing of a lockdown to curb the coronavirus outbreak, which caused a sharp economic contraction in the second quarter, the central bank said in a statement. – July 31, 2020, Reuters

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