In 2025, Thailand's exports defied all expert predictions, overcoming severe storms and numerous risks to achieve a record high value.
The Department of Trade Negotiations (DTN) of the Ministry of Commerce officially announced on 23 Jan 2026 that Thailand's total export value for 2025 was 339.635 billion US dollars or 11.138 trillion baht, marking an all-time high.
This represented a 12.9% growth compared to 2024, the highest expansion rate in four years, well above the initial target of just 2-3%.
Imports also rose in 2025, with Thailand bringing in goods across six categories: fuel; capital goods like machinery used in production; semi-processed raw materials for finished goods used domestically and for export; consumer goods; vehicles and transport equipment; and weapons and other supplies, totaling 344.943 billion US dollars or 11.448 trillion baht, a 12.9% increase—the highest in three years.
Because imports exceeded exports, Thailand recorded a trade deficit of 5.308 billion US dollars or 310.286 billion baht in 2025, effectively operating at a business loss.
Specifically, in December 2025, exports were valued at 28.928 billion US dollars or 931.299 billion baht, up 16.8% from December 2024, marking the 18th consecutive month of growth. Imports stood at 29.280 billion US dollars or 954.831 billion baht, up 18.8%, resulting in a trade deficit of 352 million US dollars or 23.532 billion baht.
Despite the overall trade deficit, Thailand maintained a trade surplus with the United States for another year, despite former US President Donald Trump’s efforts to impose tariffs to limit imports and address trade imbalances.
In December 2025, Thailand's trade surplus with the US was 5.096 billion US dollars, and for the full year, 51.361 billion US dollars. This likely pressured the US to address its trade deficit with Thailand and fully apply all related measures. Conversely, Thailand continued to run a trade deficit with China, amounting to 7.246 billion US dollars in December 2025 and 67.893 billion US dollars for the year.
The significant export value in December 2025 stemmed mainly from electronics and electrical appliances, fueled by the upgrade to modern technology and the rise of artificial intelligence (AI).
Electronics exports in December 2025 grew 52.8%, and 38.3% for the entire year, driven by accelerated shipments to the US, which were exempted from a 19% retaliatory tariff. Electronics accounted for 25% of Thailand’s total export value. Electrical appliances grew 17.2% in December and 10.8% for the year, representing 10% of total exports.
Exports to the US continued to expand strongly alongside the US economy despite high import tariffs. Thai exporters also managed supply chain risks from geopolitical tensions, although agricultural exports declined due to natural disasters, intense global competition, and a strong baht making Thai goods more expensive than competitors.
Exports increased in nearly all key markets: the US by 54.3%, the European Union (27 countries) by 17.2%, ASEAN (5 countries) by 13.1%, China by 4.4%, and Japan by 8.6%. However, exports to the CLMV countries fell 11.4% due to full border closures between Thailand and Cambodia and partial closures between Thailand and Myanmar.
For 2026, Nuntapong Jiralertpong, Director of the DTN, highlighted ongoing risks and opportunities. Key risks include geopolitical conflicts disrupting global production and trade chains, and the appreciation of the baht.
Opportunities exist if the global economy recovers, geopolitical tensions ease, the electronics product cycle continues growth, countries stockpile food for security, emerging markets like India, Latin America, and Central Asia grow, and new free trade agreements take effect this year.
Exports in 2026 are projected to range from a 3.1% decline to a 1.1% increase compared to 2025, with a midpoint estimate of a 1.1% decrease. Total export value is forecast between 329.106 billion and 343.371 billion US dollars, averaging 27.426 to 28.614 billion US dollars per month.
However, despite celebrating record-high export values, the actual income retained by Thai people and the country is minimal, as Thailand operates at a trade deficit or business loss.
Importantly, nearly all high-value exports are industrial goods produced by foreign investors, who repatriate profits abroad; Thai people mostly benefit only through employment.
DTN data shows that in 2025, only 30% of Thailand’s total export value of over 11.1 trillion baht came from Thai SMEs, while 70% came from large companies and multinational corporations.
Agricultural industrial products and agricultural goods, which directly benefit Thai people, have relatively low export values. Moreover, nearly all agricultural products, including rice and rubber, recorded negative growth, depressing domestic prices and impacting farmers’ incomes.
This poses a challenge for the government to help the agricultural sector weather export storms, maximize national income, and raise farmers’ and citizens’ incomes while modernizing production and export structures to keep pace with global changes and risks.
This is essential for Thailand to maintain competitiveness, generate national revenue, and sustain stable economic progress.
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