Thailand Exports Hit Record High in March

Thailand’s exports surged 18.7% yoy to a record high of USD 35.2 billion in March 2026, accelerating sharply from a 9.9% rise in February, which was the weakest export growth in three months, signaling resilience despite a sharp drop in shipments to the Middle East. Sales of industrial products soared 21.4%, marking the 24th straight month of growth, driven by computers and equipment (34.2%), telephones and components (166.6%), machinery (16.6%), and electrical transformers (29.6%), while automobile and auto parts sales fell 3.5%. By contrast, agricultural shipments fell 10.7%, dragged by rubber (-21.6%), meat and meat preparations (-22.8%), and tapioca products (-17.2%). Shipments to the US, Thailand’s largest market, surged 41.9% yoy, while those to Japan rose 9.1%, and exports to China fell 1.1%. However, exports to the Middle East plunged 57.1% due to the impact of the Iran war. For Q1, exports rose 17.6% compared with the same period in 2025, reaching USD 96.2 billion.

Thailand's exports rose 9.9% yoy to USD 29.44 billion in February 2026, slowing markedly from a 24.4% jump in January and falling short of market estimates of 15.1%. The latest reading was the weakest sales growth since November, on softer foreign demand as Middle East tensions continued to weigh on trade. Sales of industrial products increased 13.3%, marking the 23rd month of rise, boosted by computers, equipment (49.8%), automobiles (6.3%), telephones and components (217.7%), machinery and parts (28.4%), electrical transformers (47.1%), and transmission apparatus (251.5%). In contrast, agricultural shipments fell further (-5.7%), dragged by rubber (-26.2%), wheat products (-13.5%), tapioca products (-19.1%), and sugar (-53.0%). Exports grew to the US (40.5%), Japan (9.7%), China (0.4%), the EU (20.6%), and ASEAN (17.8%). Bangkok has said it is closely monitoring the impacts of the situation in the Strait of Hormuz to mitigate consequences. In January-February, exports rose 23.7%.

Thailand's exports jumped 24.4% yoy to a record high of USD 31.57 billion in January 2026, quickening from 16.8% in the prior month and pointing to the 19th straight month of increase. The latest figure also signaled the fastest pace since December 2022, boosted by robust global demand at the start of the year. Sales of industrial products climbed 29.8%, boosted by computers, equipment (68.2%), automobiles (9.8%), telephones and components (195.4%), circuit boards (10.9%), electrical transformers and parts (32.2%), and switchboards and control panels (43.6%). In contrast, exports fell for rubber (-5.6%), plastics (-7.5%), and radio, TV (-9.3%). Agricultural shipment edged down 1.8%, reversing gains in December. Exports grew to the US (43.1%), Japan (2.7%), China (35.1%), the EU (17.8%), and ASEAN countries (19.8%). Bangkok has signaled its commitment to closely monitor exchange rate volatility and trade dynamics amid external risks. In 2025, exports rose 12.9% to USD 339.64 billion.