August 2, 2008
BANGKOK (AFP) - The Thai current account for June was in surplus due largely to strong exports of agricultural goods, the central bank said.
Thailand's current account surplus was at 722 million dollars for June, compared to 1.21 billion dollars last year, the Bank of Thailand (BoT) said in its monthly report Thursday.
The figure was slower than the May surplus recorded at 926 million dollars, the bank said.
"Trade surplus in June was due to strong exports particularly in agricultural and industrial goods," said Amara Sriphayak, senior director at the BoT's Domestic Economy Department.
Exports jumped to 16.14 billion dollars in June, up 28.5 percent year-on-year, largely made up of agriculture, petroleum and computer products as well as gold, precious stones and other jewellery.
Exports account for more than 60 percent of the Thai economy.
Imports also rose to 15.22 billion dollars in June, up 31.5 percent year-on-year, increasing in all sectors including consumer and capital goods as well as raw materials, the bank said.
An increase in fuel and lubricant prices added to import values in June, the bank said.
Among Thailand's biggest trading partners, exports to the United States grew 3.04 percent year-on-year to 1.69 billion dollars, while shipments to Japan rose 12.17 percent to 1.75 billion dollars in June.
EU-bound exports also expanded 2.18 percent to 1.87 billion dollars, the Bank of Thailand said.
