Thailand reports current account deficit
After posting a $1.37 billion surplus in December 2004, Thailand's current account balance showed a deficit of $942 million for January 2005, the Bank of Thailand reports. A $1.48 billion trade deficit in January 2005 contributed greatly to the deficit in the current account balance. Imports rose 33.6% year-on-year to $9.17 billion in January, while exports increased only 16% to $7.7 billion. Fuel imports accounted for 16% of the country's total imports. Other main imports included gold for use in the jewelry industry and steel for use in construction projects.