Bank of America: Thailand's economic situation is expected to remain weak in the second quarter

Pipat Luengnaruemitchai and Kenneth Newell stated that although upcoming government stimulus measures in the second half of the year and stronger private investment should support economic growth, risks for the outlook in 2026 remain, especially if a prolonged closure of the Strait of Hormuz further drives up energy prices. In April, the country recorded a current account deficit of $7.6 billion, and service balance also turned negative due to sluggish tourist spending and seasonal dividend remittances. They added that looking ahead, the current account may continue to face pressure in 2026 due to high energy prices, increased imports, and weak service balance.