Thailand’s exports grew at the fastest pace in more than four years, powered by electronics tied to the global artificial-intelligence boom and surging Chinese demand for Thai durians and mangosteens.
Outbound shipments jumped 24.3% in August from a year earlier, the strongest growth in 56 months and up from 21.6% in July, commerce ministry data showed Friday. Imports rose 25.1%, slowing from a 36.7% increase the previous month.
The trade deficit narrowed to US$2.5 billion from US$3.6 billion in July.
Export growth was slightly below the 24.8% median estimate in a Bloomberg survey of economists, while imports increased less than the 30% forecast. Economists had expected a US$3.6 billion trade deficit.
The latest figures reinforce the commerce ministry’s forecast that Thailand’s exports will reach a record this year. Electronics, which account for nearly a third of shipments, are expected to remain a key driver as global technology companies ramp up spending on AI infrastructure.
The export boom comes alongside a surge in foreign investment. Applications for investment incentives reached a record last year and are on track to surpass that level in 2026, adding capacity in data centres, electronics and other technology industries as Thailand benefits from a broader shift in global supply chains.
The commerce ministry expects exports to remain strong through the rest of the year, supported by electronics demand and greater clarity over US tariffs. With shipments up 18.9% in the first eight months, full-year growth could reach 15%, Nattiya Sujinda, deputy director of the Trade Policy and Strategy Office, said at a briefing Friday.
But the strength may prove difficult to sustain. Exports could contract next year as high oil prices, elevated inventories and earlier front-loading of orders weigh on demand, Nattiya said.
US tariffs
“Tariff uncertainty prompted many companies to front-load orders, pushing imports to record levels this year,” she said. “As a result, they may reduce or halt new orders next year.”
The US has been a major source of this year’s growth. Thai exports to the country surged 48.7% in August from a year earlier, the 35th consecutive monthly increase, driven partly by electronics. About 60% of Thai shipments to the US aren’t subject to the current Section 301 tariff, Nattiya said.
Thailand faces a 12.5% US tariff on most covered exports under a Section 301 action tied to restrictions on imports made with forced labor. Bangkok is seeking treatment comparable with Indonesia and Malaysia, which face a lower 10% levy.
The two countries remain in “serious” tariff negotiations, with market access among the key unresolved issues, foreign minister Sihasak Phuangketkeow said this week.
Thailand is also under US scrutiny over goods potentially routed through the country to evade tariffs. Shipments found to have falsely claimed Thai origin and destined for the US amounted to about 0.04% of Thailand’s total exports to the country, according to the customs department.
