Thailand’s Trade Momentum Surges on Electronics and AI Demand
Thailand recorded a 7.1% increase in exports in November 2025, reaching US$27.45 billion and marking the 17th consecutive month of growth. Strong demand for electronics and AI-related products was the main driver of this remarkable performance. Excluding oil, gold, and defense items, export growth accelerated further, demonstrating resilience in the manufacturing sector.
The Commerce Ministry projects full-year export growth at 11.6-12.1%, signaling sustained momentum despite global uncertainties and market fluctuations. Industrial goods, particularly computers, telecommunication equipment, and AI-linked products, have been the backbone of Thailand’s export strength. These sectors are benefiting from the ongoing global upswing in digital technologies and high-tech manufacturing.
Imports also increased in November to US$30.17 billion, up 17.6%, resulting in a trade deficit of US$2.73 billion for the month. The wider trade imbalance highlights the challenges of maintaining competitiveness amid rising global costs and fluctuating demand for raw materials. Nevertheless, the export performance reflects Thailand’s ability to capitalize on global technology trends and maintain robust industrial output.
Thailand’s export expansion continues to extend across both traditional and emerging markets, reinforcing the country’s role as a key manufacturing hub in Southeast Asia. Electronics and AI-linked shipments have been particularly instrumental, allowing exporters to capture growth opportunities in advanced economies. This dynamic underscores the critical role of innovation and high-value production in sustaining Thailand’s international trade performance.
Over the first eleven months of 2025, Thailand’s exports grew 12.6% year-on-year, with industrial product exports expanding 17.1%, demonstrating consistent industrial sector resilience. Agricultural and agro-industrial exports, by contrast, faced contraction due to natural disasters and intensified global competition. The divergence between manufacturing and farm exports highlights the shifting composition of Thailand’s trade landscape, emphasizing technology-driven industries.
Looking ahead, continued investment in electronics, AI, and digital infrastructure will be crucial for maintaining export momentum into 2026. While geopolitical risks and weaker demand from key markets pose potential headwinds, the strong performance through November provides optimism for Thailand’s trade prospects. Policymakers are focusing on sustaining industrial growth while mitigating vulnerabilities in agriculture and other sensitive sectors.
Electronics and AI Propel Thailand’s November Export Surge
Thailand’s industrial exports led November growth, rising 12.2% year-on-year and extending expansion to a 20-month streak of consistent gains. Key contributors included computers, computer parts, and telecommunication equipment, reflecting strong global demand for high-tech products. The growth also benefited from increased shipments of printed circuit boards, electric transformers, and control panels.
Exports of gems and jewelry, excluding gold, also supported industrial performance, showing resilience despite fluctuating global consumer markets. Switchboards and related control equipment experienced notable increases, highlighting Thailand’s competitive edge in specialized manufacturing. These gains underscore the critical role of electronics and AI-linked products in driving the country’s export momentum.
Conversely, automotive exports, including cars and parts, saw contraction in November, reflecting softer global demand and lingering supply chain constraints. Chemical and plastic pellet shipments also fell, partially offsetting gains in the broader industrial sector. Such contractions demonstrate that while technology and electronics dominate, traditional manufacturing segments face headwinds from global market fluctuations.
Industrial growth remained consistent for January-November 2025, with exports up 17.1%, confirming the sector’s long-term contribution to overall trade expansion. Electronics and AI-related products continue to capture high-value global markets, providing Thailand with competitive advantages. These trends suggest that technology-driven industrial exports will remain a key growth engine for the foreseeable future.
Agricultural and agro-industrial exports, by contrast, declined 9.5% in November, indicating persistent challenges for the sector amid global competition and adverse weather events. Agricultural exports fell 15.7%, marking a fourth consecutive month of contraction and reflecting pressures on rice, rubber, and cassava shipments. Agro-industrial products contracted 2.3%, after three months of moderate growth, signaling the sector’s vulnerability to market fluctuations.
Some agricultural and processed items did see gains, including processed and canned fruits, edible meat, and fresh or frozen shrimp. Animal and vegetable fats and oils also recorded modest increases, providing limited relief to the overall agricultural export performance. These pockets of growth, however, were insufficient to offset declines in major commodity exports and traditional farm products.
The contrasting trends between industrial and agricultural exports highlight the shifting composition of Thailand’s trade, with technology-driven products increasingly dominating. Electronics, telecommunication components, and AI-related goods have become central to sustaining export momentum. Meanwhile, traditional sectors face intensified global competition and structural challenges, underscoring the need for policy support and market diversification.
TPSO Director-General Nantapong Chiralerspong emphasized that the continued rise of AI and digital technologies globally is strengthening demand for Thailand’s high-tech exports. This trend is expected to sustain industrial export growth, despite agricultural setbacks and external uncertainties. The government continues to monitor these dynamics to ensure trade policies remain responsive to sector-specific needs.
Overall, Thailand’s November export performance illustrates a dual narrative: robust growth driven by industrial innovation alongside persistent challenges in agriculture and traditional sectors. Electronics and AI-linked products clearly dominate the expansion, demonstrating the country’s strategic position in global technology markets. Policymakers face the task of balancing support for both high-growth and vulnerable sectors to maintain broad-based export resilience.
Thailand’s Export Markets Show Uneven Growth Patterns Across Regions
Exports to the United States continued to expand strongly, providing vital support for Thailand’s trade performance in November 2025. High demand for electronics, AI-linked products, and industrial goods has bolstered shipments to North America. This consistent growth underscores the US’s importance as a key market for Thailand’s high-tech exports.
By contrast, exports to China, Japan, and the CLMV countries showed signs of slowing, reflecting weaker demand in major Asian markets. Geopolitical tensions and local economic uncertainties are contributing to this slowdown. These shifts highlight the vulnerability of Thailand’s trade to fluctuations in regional economic conditions.
Secondary markets recorded mixed results, with overall exports rising 7.6% year-on-year, led by South Asia, Australia, and the United Kingdom. These markets are increasingly important for diversification, helping offset slower growth in traditional partners. Strong performance in these regions demonstrates Thailand’s strategic outreach beyond core trading partners.
Exports to the Middle East, Africa, Latin America, and Russia including CIS countries fell during November, reflecting a challenging external environment. Reduced industrial demand and political uncertainties in some regions contributed to the declines. Such trends emphasize the importance of flexible trade strategies to navigate varying market conditions.
Shipments to “other markets” fell sharply by 30.1%, signaling weaker global demand in less established trading regions. These declines point to the risks of over-reliance on smaller markets with volatile economic conditions. Policymakers are monitoring these patterns to target support for exporters facing global uncertainties.
TPSO officials noted that despite slower growth in certain regions, strong demand from the United States helped sustain overall export expansion. Electronics, computers, and telecommunication products remain the core drivers of Thailand’s industrial exports across all markets. Strategic engagement with both primary and secondary markets is essential to maintaining trade momentum.
Thailand’s ability to adapt to market-specific conditions has been critical in sustaining export growth, especially amid geopolitical risks and global economic fluctuations. The variation between strong and weak markets underlines the need for targeted trade policies. Exporters are encouraged to explore emerging opportunities while managing exposure to slower-growing regions.
In summary, Thailand’s export landscape is marked by uneven growth, with robust performance in the US and secondary markets balancing declines elsewhere. Understanding these dynamics will be crucial for sustaining momentum in the coming months. Flexible strategies and diversified market engagement remain essential for long-term trade stability.
Thailand’s focus on electronics, AI-related products, and industrial goods allows it to capitalize on high-demand markets while mitigating weaknesses in slower regions. The trade pattern demonstrates the strategic importance of aligning export offerings with market-specific needs. This approach provides a foundation for resilience despite global economic uncertainties.
Thailand’s Export Outlook Remains Strong but Faces Challenges Ahead
TPSO estimates December 2025 exports at approximately US$25.0-26.5 billion, which could bring the full-year total to US$335-337 billion. If realized, this would translate into full-year growth of 11.6-12.1%. Strong demand for electronics, computers, and AI-linked products continues to drive optimism for overall export performance.
Full-year results for 2025 reflect sustained momentum across industrial sectors, offsetting weaker performance in agriculture and agro-industrial exports. The growth underscores Thailand’s ability to capitalize on high-value technology products. Government initiatives and private sector engagement have played a key role in maintaining trade expansion throughout the year.
Looking ahead to 2026, the ministry warns that export growth may slow to a range of -3.3% to 1.1% due to global economic pressures. Weaker demand from major trading partners and softer global conditions are expected to affect industrial exports. Additional challenges include US tariff measures, pricing pressures, and a stronger baht impacting Thailand’s competitiveness.
Severe weather events and natural disasters could also adversely affect agricultural output, further limiting overall export growth. Persistent geopolitical risks in key regions add uncertainty to the trade outlook. Policymakers must carefully balance export promotion with risk mitigation strategies in response to these challenges.
TPSO emphasizes that exports for the remainder of 2025 may outperform expectations, supported by easing trade measures and robust digital technology demand. Bilateral trade improvements with the US, China, and other countries provide further opportunities. This temporary boost, however, may not be sustained if global economic conditions deteriorate in 2026.
The ministry’s 2026 work plan focuses on enhancing trade agreements, enforcing rules of origin, and increasing FTA utilization to support exporters. Collaborative efforts with the private sector aim to sustain competitiveness amid weaker demand and global uncertainties. Strategic policy interventions will be critical in maintaining Thailand’s export resilience.
External risks, including US-China trade dynamics and geopolitical tensions in key markets, could create additional volatility in Thailand’s export performance. Exporters must remain agile to respond to sudden changes in demand and market conditions. Technology-driven products may continue to outperform traditional sectors if global demand remains stable.
Domestic factors, such as currency appreciation and production costs, are also expected to influence export competitiveness in 2026. A stronger baht may reduce profit margins for exporters relying on international markets. Policy measures aimed at supporting industrial growth and mitigating currency risks will be essential for sustainable trade performance.
Overall, Thailand enters 2026 with strong momentum from 2025 but faces multiple risks that could affect exports. Strategic focus on high-value industrial products, technology, and trade partnerships will determine the country’s ability to sustain growth under challenging conditions.
Thailand’s Trade Growth in 2025 Shows Strength but Faces Pressure
Thailand’s export performance in 2025 has been driven by strong industrial growth, particularly in electronics, computers, and AI-related products. These high-value sectors have consistently outperformed traditional industries. The sustained demand for technology-driven goods highlights the country’s competitive position in global markets.
Agricultural and agro-industrial exports, by contrast, faced contraction due to natural disasters, global competition, and fluctuating commodity prices. Despite pockets of growth in processed and canned goods, overall performance remained weak. Policymakers are tasked with balancing support between resilient industrial sectors and struggling agricultural exports.
Exports to key markets such as the United States remained robust, while slower growth in China, Japan, and CLMV highlighted the importance of diversification. Secondary markets in South Asia, Australia, and the United Kingdom provided further support for trade expansion. These trends emphasize that market-specific strategies are essential for sustaining overall export momentum.
Looking ahead to 2026, Thailand faces multiple risks, including weaker global demand, US tariffs, currency fluctuations, and weather-related impacts on agriculture. Geopolitical uncertainties and softer demand from major trading partners may constrain growth. Strategic trade policies and private sector collaboration will be critical in mitigating these challenges and maintaining competitiveness.
Digital technologies and AI continue to play an increasingly important role in shaping Thailand’s exports, particularly in high-tech industrial products. Electronics, telecommunication components, and AI-linked goods will likely drive trade momentum. Investing in innovation and technological advancement will be key to sustaining Thailand’s position in global supply chains.
Overall, Thailand’s 2025 export performance demonstrates strong industrial growth and resilience, while agricultural and regional challenges persist. The interplay between technology-driven sectors and global market conditions will shape the trajectory of trade in 2026 and beyond. Policymakers must focus on balancing growth, risk management, and technological innovation to maintain export competitiveness.
