Thailand Export Growth Beats Estimates

Thailand’s exports increased 21.6% yoy to a four-month high of USD 34.8 billion in July 2026, accelerating slightly from a 20.8% increase in June, surpassing forecasts of 17.8% and marking the fastest increase in three months. Export growth was mainly driven by a rise in sales of industrial products, which grew 24.2%, mainly boosted by computers and related equipment (63.2%), telephones and components (160.3%), and circuit boards (35.2%). Also, shipments of agricultural products climbed 0.6%, marking the first expansion in three months. Shipments to the US, Thailand’s largest export market, surged 45.3% year-on-year, while those to China and Japan rose 15.2% and 21.3%, respectively. For the first seven months of the year, exports advanced 18.2% from the same period in 2025, reaching USD 231.5 billion. Last month, the Commerce Ministry maintained its forecast for export growth of 8% this year, supported by easing global tensions and strong tech demand.

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 maintains its forecast for export growth of 8% this year, 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.