BANGKOK: Thailand’s exports rose for a ninth straight month in March and more than expected, reaching the highest level in three years, although steep US tariffs remain a concern, the commerce ministry said on Thursday (Apr 24).
Exports, a key driver of Southeast Asia’s second-largest economy, climbed 17.8 per cent in March from a year earlier, above a forecast rise of 13.5 per cent in a Reuters poll and beating February’s 14.0 per cent rise.
In the January-March period, exports rose 15.2 per cent year-on-year. The commerce ministry has forecast exports will rise 2 per cent to 3 per cent this year, after an increase of 5.4 per cent to a record US$301 billion in 2024.
In March, exports to the United States, Thailand’s biggest market, rose 34.3 per cent from a year earlier, while shipments to China increased 22.4 per cent.
Imports rose 10.2 per cent in March from a year earlier, up from a forecast rise of 6.1 per cent.
The country recorded a trade surplus of US$0.97 billion last month versus a forecast surplus of US$1.1 billion.
The United States was Thailand’s largest export market last year, accounting for 18.3 per cent of total shipments, or US$54.96 billion. Washington has put its deficit with Thailand at US$45.6 billion. Thailand is among Southeast Asian nations hardest hit by US President Donald Trump’s measures, facing a 36 per cent tariff if a reduction can’t be negotiated before a global moratorium expires in July.
“Thai exports in 2025 face a challenge from US tariffs and retaliatory tariffs from other countries, creating concern for the the global economy” the ministry said in a statement.
