Thailand’s merchandise exports experienced a surge for the 21st month in a row in March 2026, reaching a new high of US$35.16 billion, an increase of 18.7% when compared to the previous year. The Ministry of Commerce reported these figures, highlighting a significant growth compared to the 9.9% increase recorded in February. This data further underscores the crucial role of exports in boosting the Thai economy.
This remarkable performance can largely be attributed to the strength of technology-related products, a robust global supply chain activity, and the temporary relief from certain U.S. tariff measures. Nantapong Chiralerspong, the Director-General of the Trade Policy and Strategy Office (TPSO), added that the recovery in global manufacturing, evident from the stable demand and new orders from international markets, also contributed to this export growth.
Despite the positive indicators, Chiralerspong issued a word of caution. He pointed out the presence of emerging challenges, particularly the disruptions in shipping through the Strait of Hormuz, which is starting to impact Middle Eastern markets, indicating a potential slowdown.
On another note, Thailand witnessed a significant rise of 35.7% in imports in March, bringing the figure to $38.50 billion. This resulted in a trade deficit of $3.34 billion. The first quarter of the year saw total exports from Thailand reaching $96.17 billion, marking an increase of 17.6%. On the other hand, imports surged by 32.4% to $105.65 billion, leading to a trade deficit of $9.48 billion.
The Ministry of Commerce expressed concerns over the uncertain future of export prospects due to global volatility. The ongoing tensions in the Middle East are driving up logistics, energy, and production costs, thereby increasing the pressure on Thailand’s export sector.
What are the main drivers of Thailand’s recent export growth?
The recent export growth in Thailand can mostly be attributed to the robust sales of technology-related products, active global supply chain activity, and the temporary relaxation of certain U.S. tariff measures. The recovery in global manufacturing has also supported this growth.
What challenges is Thailand facing in its export sector?
Emerging challenges, including disruptions in shipping through the Strait of Hormuz, are starting to impact the Middle Eastern markets, indicating a potential slowdown. Additionally, ongoing Middle East tensions are escalating logistics, energy, and production costs.
How has the import activity been in Thailand recently?
Thailand has seen a sharp increase in imports, rising by 35.7% in March 2026 to $38.50 billion. In the first quarter of the same year, imports surged by 32.4% to $105.65 billion.
