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Thailand posted a trade deficit for the first time in nine months in April as imports grew faster than exports, the central bank said Wednesday.
The country's imports rose 11.2 percent year-on-year to US$10.73 billion, while exports increased 16.5 percent at 10.63 billion dollars in the month, resulting in a trade deficit of US$97 million, the Bank of Thailand said.
"Imports in April expanded faster than exports mainly due to the purchase of two aircrafts," a central bank official said.
Exports, the key driver of the Thai economy, rose on the back of robust global demand for hi-tech goods, but the central bank said shipments of labor-intensive products such as textiles and jewelry declined in the month.
Hi-tech exports rose 16 percent year-on-year to US$6.9 billion, but shipments of labor-intensive goods fell 9.6 percent to US$788 million.Agricultural exports in April jumped 22.5 percent to US$848 million.
Agence France Presse