Thailand Imports Notch Record High

Thailand’s imports surged 45% yoy to a fresh peak of USD 41.60 billion in April 2026, accelerating from a 35.7% growth in the prior month and marking the fastest increase since August 2021. The outcome was far above market expectations of 27.2%, boosted by robust household demand and policy support aimed at lifting spending and capital outlays, even as disruptions from the Middle East conflict pushed up energy and logistics costs. Purchases grew for fuel (128.6%), other products (44.3%), raw materials, semi-finished products (38.7%), capital goods (32.8%), transport equipment (15.0%), and consumer goods (13.0%). By commodity, imports rose for crude oil (169.3%), circuit boards (133.8%), natural gas (62.4%), chemicals (32.9%), other metal ores, scrap metal (28.7%), computers (26.4%), electrical machinery (10.4%), and machinery & components (7.4%). In contrast, purchases of gold, jewelry fell 14.1%. In the first four months of the year, imports jumped 35.7% to USD 147.3 billion.

Thailand’s imports surged 35.7% yoy to a record peak of USD 38.5 billion in March 2026, accelerating from a 31.8% rise in the prior month and marking the fastest growth since August 2021. The strong expansion was driven by resilient domestic demand amid government stimulus measures aimed at boosting consumption and investment, even as trade flows faced disruptions from the Middle East conflict, which also pushed up energy and logistics costs. Purchases grew for other products (150.5%), raw materials, semi-finished products (64.4%), capital goods (28.3%), transport equipment (8.1%), and consumer goods (7.7%), but fell for fuel (-5.7%). By commodity, imports rose for gold, jewelry (154.7%), circuit boards (144.0%), electrical machinery (82.7%), other metal ores, scrap metal (33.5%), computers (25.3%), chemicals (18.2%), home appliances (12.5%), and iron, steel (5.5%); but shrank for crude oil (-6.5%). In the first three months of the year, purchases gained 32.4% to USD 105.7 billion.

Thailand’s imports surged 31.8% yoy to USD 32.27 billion in February 2026, accelerating from a 29.4% increase in the previous month and marking the strongest growth since December 2021. The latest reading also exceeded market expectations of a 24.5% rise, supported by robust domestic demand amid ongoing government stimulus measures rolled out during the month of the general election. Higher demand for machinery and other capital goods, as well as gold imports, contributed to the surge in inbound shipments. Purchases also grew for raw materials, semi-finished products (53.3%), transport equipment (19.4%), and consumer goods (10.3%). By commodity, imports increased for most components, including gold, jewelry (131.9%), electrical machinery (91.4%), circuit boards (89.8%), other metal ores, scrap metal (34.1%), home appliances (27.0%), and chemicals (10.8%); but shrank for crude oil (-29.0%) and iron, steel (-5.4%). In the first two months of the year, purchases climbed 30.5%.