Thailand Export Growth Beats Estimates

Thailand’s exports grew 20.8% yoy to a three-month high of USD 34.7 billion in June 2026, accelerating sharply from a 10.6% increase in May, which was the softest growth in four months, and surpassing forecasts of 15.2%. Export growth was mainly driven by a rise in sales of industrial products, which grew 25.1%, mainly supported by computers and related equipment (57.4%), telephones and components (186.1%), and automobiles and parts (8.0%). In contrast, shipments of agricultural products fell 10.8%, contracting for the second consecutive month. Shipments to the US, Thailand’s largest export market, jumped 44.3% year-on-year, while those to Japan rose 22.7% and those to China increased 4.9%. For the first half of the year, exports increased 17.6% from the same period in 2025, reaching USD 196.7 billion. The commerce ministry expects exports to post full-year growth of 8%, supported by easing global tensions and strong tech demand.

Thailand’s exports grew 10.6% yoy to USD 34.33 billion in May 2026, easing sharply from a 23.1% surge in April, which marked the strongest growth in three months, and falling short of forecasts of 11.6%. It was the softest increase in exports since February, with shipments to China declining. Sales of industrial products increased 14.4%, mainly driven by computers and related equipment (26.8%) and telephones and components (129.9%), while automobiles and parts declined 15.2%. In contrast, shipments of agricultural products dropped 3.1%, mainly weighed down by rubber (-5.3%), wheat products (-18.4%), and sugar (-33.2%). Shipments to the US, Thailand’s largest market, soared 33.5% yoy, while those to Japan rose 11.7% and those to China fell 2.5%. For the first five months of the year, exports grew 17.0% from the same period in 2025, reaching USD 162.1 billion. The commerce ministry expects exports to post full-year growth of 8%, supported by easing global tensions and strong tech demand.

Thailand’s exports jumped 23.1% year-on-year to USD 31.6 billion 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 (-18.1%). 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.