FX.co ★ Thailand Current Account Surplus Narrows Sharply

Thailand’s current account surplus narrowed to USD 0.72 billion in January 2026, down sharply from USD 3.74 billion in the same month a year earlier. The trade balance shifted to a deficit of USD 0.74 billion, compared with a surplus of USD 0.68 billion previously. This occurred as exports increased to USD 31.05 billion from USD 25.13 billion, while imports surged to USD 31.79 billion from USD 24.44 billion.

Net services, primary income, and secondary income declined to USD 1.46 billion from USD 3.06 billion year-on-year.

On the financial account, the overall balance fell to USD 2.19 billion from USD 4.19 billion. This weakening reflected: higher net inflows to the central bank at USD 0.23 billion (vs USD 0.16 billion); a swing in the general government position to net outflows of USD 0.84 billion (vs net inflows of USD 0.19 billion); and net outflows from other depository corporations of USD 2.25 billion (vs net inflows of USD 2.50 billion).