Thai economy continues to recover in June

Tourists in Bangkok, Thailand (Photo: AFP/VNA)

Bangkok (VNA) – The Thai economic recovery remained on track in June, with the tourism sector expanding on higher foreign tourist arrivals and exports decreasing, according to the Bank of Thailand (BoT).

Thailand recorded a current account surplus of 1.4 billion USD in June, after a deficit of 2.8 billion USD in May, the BoT said. Exports, a key driver of growth, dropped 5.9% year-on-year in June, the same pace as in May.

In the first six months, Thailand welcomed 12.9 million foreign visitors.

In the second quarter of 2023, Southeast Asia's second-largest economy displayed a moderate improvement from the previous quarter as foreign tourist numbers increased and the service and private consumption expanded, the central bank said.

The Tourism Authority of Thailand (TAT) estimated that next year, the country will host 25.8 million foreigners, who participate in short-term tourism programmes and contribute 1.2 trillion THB to its total tourism revenue./.

VNA