Aug exports drop 8.2% y/y, trade surplus widens: BoTThailand recorded a current account surplus of $3.0 billion in August, a six-month high, after a revised surplus of $1.74 billion in the previous month, the Bank of Thailand (BoT) said on Wednesday. Exports, a key driver of growth, declined 8.2% in August from a year earlier after July's 11.9% drop. The surplus was helped by record gold shipments of $2.8 billion in August, with the trend set to continue until year-end, BoT director Don Nakornthab told a briefing. Overall exports, a key driver of growth, declined 8.2% in August from a year earlier after July's 11.9% drop. The BoT has forecast the economy will contract a record 7.8% this year before growing 3.6% next year.

Source: Bangkok Post September 30, 2020 08:08 UTC