Thailand recorded a current account deficit of US$0.4 billion in July, after a surplus of $1.4 billion the previous month, the Bank of Thailand (BoT) said on Thursday.
Exports, a key driver of growth, dropped 5.5% year-on-year in July, the BoT said in a statement.
The country's economic recovery remained on track in July as the tourism sector expanded on higher foreign arrivals while exports declined, the central bank said on Thursday.
Economic activity going forward will rely on tourism recovery, while there were still some risks in exports, Sakkapop Panyanukul, a senior director at the BoT, told a briefing.
For August and the rest of the year, the BoT would monitor a slowdown in trading partners, policies of the incoming government and the impact of El Nino weather patterns on food prices, he added.