Thailand Trade Gap Hits 3-Month High

Thailand’s trade deficit widened to USD 3.30 billion in January 2026 from USD 1.88 billion in the same month a year earlier. It marked the fourth straight month of trade gap and the highest level since last October, as imports outpaced exports. Year-on-year, purchases surged 29.4% to a record peak of USD 34.88 billion, accelerating from 18.8% December and signaling the strongest pace since December 2022, amid the continued government’s support measures to boost domestic demand ahead of a general election in February. Meanwhile, exports jumped 24.4% to a record high of USD 31.57 billion, quickening from the prior 16.8% and pointing to the strongest rise since November 2021, boosted by robust foreign demand at the start of a new year. In 2025, trade shortfall stood at USD 5.31 billion, with both exports and imports growing 12.9%, respectively.

Thailand’s trade deficit widened to USD 0.35 billion in December 2025 from USD 0.01 billion in the same month a year earlier. It marked the third consecutive month of a trade gap, as imports rose faster than exports. Year-on-year, imports surged 18.8%, accelerating from a 17.6% increase in November and marking the fastest pace since August 2022, amid the government’s efforts to boost domestic demand. Meanwhile, exports grew at a softer pace of 16.8%, though this still represented the strongest growth in three months, driven by industrial products, which jumped 20.3%. Exports increased to the US (54.3%), Japan (8.6%), China (4.4%), the EU (17.2%), and ASEAN countries (13.1%). For the full year of 2025, the country recorded a trade deficit of USD 5.31 billion, with exports rising 12.9% to USD 339.64 billion, while imports also grew 12.9% to USD 344.94 billion. For 2026, exports are forecast to either fall by up to 3.1% or rise by as much as 1.1%.

Thailand's trade deficit widened to USD 2.73 billion in November 2025 from USD 2.20 billion in the same month a year earlier. It was the fifth time of a trade gap this year, with imports growing much faster than exports. Year-on-year, purchases jumped 17.6%, accelerating from a 16.3% growth in October and marking the fastest pace since May, as domestic demand strengthened amid government support measures toward year-end. Meanwhile, exports grew at a slower pace of 7.1% to USD 27.45 billion, though this still represented an improvement from the previous month’s 5.7% increase, supported by resilient foreign demand as the year draws to a close.