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2026-05-25 13:44:26
[Thailand's exports surged 23.1% year-on-year in April, exceeding expectations, driven by AI] (1) Thailand's Ministry of Commerce announced on Monday that exports in April increased by 23.1% year-on-year, exceeding market expectations (17.3%) and the previous month's increase (18.7%), marking the 22nd consecutive month of growth. The growth was mainly driven by demand for electronics and automobiles, as well as strong exports to the US (+44.2%), China (+21.9%), and the Middle East (+19.3%). (2) The Director of the Office of Trade Policy and Strategy stated that exports are expected to continue to grow at least in the first half of the year, benefiting from AI-driven demand; importers are increasing orders to hedge against supply chain disruptions and rising costs. Under the baseline scenario, exports are expected to grow by 3% for the whole year (12.9% in 2025). (3) Imports in April surged 45% year-on-year to a record high, with the trade deficit reaching a record $10 billion. Officials expect the deficit to remain but may narrow in the coming months, and the large deficit is putting pressure on the Thai baht. First-quarter GDP growth exceeded expectations, but the economic outlook for 2026 remains unchanged.
