First current account deficit in 3 months

 According to the Bank of Thailand, the shortfall was huge compared with a revised $3.44 billion surplus in July. While exports went up 28.4 per cent to US$20.9 billion compared to the same period last year, imports rose 45.9 per cent to $20.2 billion. The slight trade surplus could not compensate a drop in services and transfer, though, which fell $1.4 billion.

 Despite the current account deficit, other economic indicators showed improvement in the month. Mathee Supapongse, a director of the central bank, said at a press conference that manufacturing and consumption headed up thanks to higher income and the government's stimulus schemes.
 After a contraction in July, the industrial and agricultural production index showed an improvement, while demand remained strong. The headline inflation and core inflation in the month stood at 4.29 per cent and 2.85 per cent, compared to 4.08 per cent and 2.59 per cent, respectively.
 He noted that it is too early to estimate the damage from the recent floods. The prices of some products could rise, but if the factors are temporary the Bank of Thailand would not take them into account when reviewing inflation.
 The manufacturing index rose 7 per cent on year, thanks to the activity in the hard disk and automotive industries. Slowdown in the euzo zone and the US caused a continued drop in textile and garment exports. The output should continue growing due to domestic demand, he said.
 Agricultural output expanded 3.5 per cent on year, from 7.1 per cent contraction in July. The price index also rose 9 per cent.
 The private investment index also expanded 8.3 per cent, mostly due to more investment in the construction sector.
 In the month, Thailand welcomed 1.7 million visitor arrivals, up 35.7 per cent on year. Most of them were from Asia.