Thailand Exports Rise the Most in 3 Months

Thailand’s exports jumped 23.1% year-on-year in April 2026, accelerating from an 18.7% rise in March and surpassing forecasts of 16.2%. It was the strongest growth in exports since January, signaling resilience despite the ongoing war in the Middle East. Sales of industrial products surged 27.5%, marking the 25th straight month of growth, driven by computers and equipment (68.7%), telephones and components (140.5%), machinery and parts thereof (29.3%), integrated circuits (19.4%), and autos and parts (9.4%). At the same time, agricultural shipments grew 17.9%, the first increase in nine months, despite sharp declines in sugar (-49.1%) and rubber (-18.0%). Shipments to the US, Thailand’s largest market, surged 44.2% year-on-year, while those to Japan and China rose 21.9% and 23.4%, respectively. For the first four months of the year, exports grew 18.9% compared with the same period in 2025, reaching USD 127.8 billion.

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%.