Thailand recorded a current account surplus of US$1.3 billion in February, after a revised deficit of $2.1 billion in the previous month, the Bank of Thailand (BoT) said on Friday.
Exports, a key driver of growth, declined 4.1% year-on-year in February, the central bank said in a statement.
The World Bank said on Friday that the Thai economy is expected to grow by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and strong pent-up demand following China’s reopening.
The 2023 outlook was unchanged from a forecast in December, and compared with 4.1% growth predicted in September.
The World Bank projects economic growth of 3.7% in 2024.
Foreign tourist arrivals are expected to rise to 27 million this year and “surpass the pre-pandemic level by 2024”, the World Bank said in a report.
On Thursday, the…
