Peerawat, Deputy Spokesperson of the Kla Tham Party, signals a crisis in Thailand's trade balance: exports are growing but the deficit is surging. He urges Supachai to expedite eight measures to restore the manufacturing base before the deficit becomes a structural problem.
On 15 July 2026, Peerawat Somwong, Deputy Spokesperson of the Kla Tham Party and opposition member, commented on Thailand's trade situation, stating that the sharply rising trade deficit figures reflect structural problems that the government and Ministry of Commerce can no longer conceal with export numbers. He called on Supachai Sutthumpan, Deputy Prime Minister and Minister of Commerce, to explain to the public and implement eight proposals within 90 days.
Peerawat said data from the Ministry of Commerce shows that in April 2026, Thailand's trade deficit reached 10.02 billion USD, the highest since records began in 1991. Imports surged 45% to 41.6 billion USD, and the country has faced a trade deficit for eight consecutive months as of May, resulting in a cumulative deficit of over 25.2 billion USD in the first five months.
More concerning is trade with China. In the first quarter, Thailand's trade deficit with China was 679.7 billion baht, a 41% increase. Imports from China grew 25.68%, while Thai exports to China rose only 0.70%, leading to estimates that the annual deficit with China may exceed 2.2 trillion baht.
“Today, the minister acts more like a narrator of economic decline than a manager. Thai factories and family businesses are being flooded with underpriced imported goods, yet the ministry celebrates export figures, even though the minister admits that 90% of growth benefits large companies. Where does that leave Thai SMEs?”
Peerawat stated that as opposition, Kla Tham Party proposes an eight-point action plan for the Ministry of Commerce to urgently implement:
1. Establish emergency trade safeguards within 90 days, expedite investigations into dumping and Safeguard measures in heavily impacted industries, enforce VAT and Thai Industrial Standards (TISI) on low-value imports via e-commerce seriously, and monitor duty-free zones and origin fraud strictly.
2. Stop measuring success solely by export volume; publicly disclose the domestic value added, local content ratio in the top 10 export industries, and SME export share to clarify how exports truly benefit Thai people.
3. Disclose details of tax negotiations with the United States to parliament. Since the minister indicated clarity would come by July, the current month, the status, industry impacts, and export contingency plans should be made public, especially as recent export figures may reflect accelerated shipments ahead of tax measures.
4. Resolve SME difficulties in utilizing FTA rights by establishing self-certification systems for rules of origin, creating a digital Single Window, and setting verifiable targets for FTA usage, as trade rights on paper are meaningless if small businesses cannot access them.
5. Liberalize service sectors that are real production costs, reviewing restrictions in legal, accounting, and logistics services, which are major production costs. Protecting some service businesses from competition effectively creates a "hidden tax" paid by Thai factories and farmers.
6. Develop plans for energy and logistics security related to trade, diversify fuel import sources, plan shipping and container capacity in advance, and set up permanent assistance mechanisms for exporters that can activate immediately in crises, rather than forming task forces post-issue.
7. Set minimum guarantees for SMEs with measurable targets, announce SME export share goals, provide low-interest credit and export insurance for new exporters, and report quarterly on how many SMEs actually enter foreign markets, not just seminar attendance numbers.
8. Publish a monthly trade risk dashboard for the public, reporting on surges in imports by category, trade deviations from China, and effects of accelerated exports, so parliament and businesses have access to the same data as the ministry.
“Promotion is not policy, and press releases are not achievements. The Ministry of Commerce should be judged by what Thai producers retain, not by the number of containers shipped. Today, the deficit figures are nearly double market expectations, yet the ministry acts like a weather announcer forecasting a storm, when the minister's role is to manage the storm, not just read the forecast.”
Peerawat concluded that while the Kla Tham Party acknowledges that global oil prices and some natural disasters are beyond the minister's control, all eight proposals fall within the ministry's scope and mechanisms.
“We give a 90-day deadline. If the minister remains silent, the Kla Tham Party as opposition will use all parliamentary channels to demand answers—from questions and oversight in parliament to considering whether a minister who only reports damage without stopping it deserves to continue managing the Ministry of Commerce.”