June 30, 2020 / 7:24 AM / 5 days ago

Thai May exports fall 23.6% y/y, current account turns to small surplus - central bank

BANGKOK, June 30 (Reuters) - Thailand recorded a current account surplus of $64 million in May, after a deficit of $0.7 billion in the previous month, the central bank said on Tuesday.

Exports, a key driver of growth, dropped 23.6% in May from a year earlier, after April’s 3.3% decline. Imports dropped 34.2%.

In May, the Thai economy continued to contract substantially due to declining shipments and tourism, it said in a statement.

Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Alison Williams

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