Thailand's private consumption and investment grew in November but exports increased less than in October leading to a current account deficit, the central bank said on Thursday.
The country recorded a current account deficit of US$1.2 billion (RM5.58 billion) in November, after a surplus of US$700 million the previous month, the central bank said in a statement.
Exports, a key driver of Thai growth, rose 3.9% in November from a year earlier, after October's 7% increase on the year, it said.
Revenue generated by foreign tourist arrivals dropped in November and manufacturing decreased, the central bank said.
However, private consumption increased by 0.8% from October and private investment rose by 1.8%, the central bank said, noting domestic demand was expected to continue underpinning economic activities in December.
Southeast Asia's second-largest economy grew by 1.5% in the July-September quarter from a year earlier, the slowest pace this year and less than expected, on weak exports and government spending.
Source: Investing