BANGKOK — Thailand’s exports surged to a record high in 2025, expanding 12.9% year on year to a total value of 339.6 billion US dollars, or about 11 trillion baht, the Ministry of Commerce said, marking the strongest performance in four years.
The Trade Policy and Strategy Office (TPSO) said the 2025 figure was the highest on record and the best since 2021. Exports excluding oil-related products, gold and military goods rose 14.0%. Imports for the year totalled 344.9 billion US dollars, up 12.9%, resulting in a trade deficit of 5.3 billion US dollars.
TPSO director-general Nantapong Jiralertpong said exports in December 2025 reached 28.9 billion US dollars, or 931.3 billion baht, rising 16.8% from a year earlier and extending growth to an 18th consecutive month. Imports in December rose 18.8% to 29.3 billion US dollars, leaving a monthly trade deficit of 352 million US dollars.
The strong December performance was driven mainly by electronics and electrical appliances, supported by technology upgrades linked to artificial intelligence and supply-chain diversification amid ongoing geopolitical tensions. Agricultural exports, however, continued to contract due to natural disasters and intense global competition.
Agricultural exports
Exports of agricultural and agro-industrial products rose 2.8% year on year in December, returning to growth for the first time in five months. Agricultural products alone fell 0.6%, while agro-industrial products increased 6.8%.
Key items showing growth included fresh, chilled, frozen and dried fruit, up 11.1%; pet food, up 18.4%; processed chicken, up 17.3%; canned and processed fruit, up 14.9%; and fats and oils from plants and animals, which surged 40.4%.
Major declines were seen in rubber, down 1.9%; rice, down 27.4%; cassava products, down 4.0%; beverages, down 17.3%; and sugar, down 10.2%.
For the whole of 2025, exports of agricultural and agro-industrial products slipped 0.4%.
Industrial exports
Industrial exports expanded 20.3% year on year in December, marking 21 consecutive months of growth. Notable gains were recorded in computers and parts, up 51.5%; automobiles and parts, up 5.0%; machinery and parts, up 22.8%; telephones and parts, up 102.6%; printed circuit boards, up 14.6%; transformers and parts, up 53.3%; and electrical switchboards and control panels, up 33.2%.
Declines were seen in oil-related products, down 8.5%; wood and wood products, down 9.6%; and radios, televisions and parts, down 13.0%.
Overall, industrial exports for 2025 rose 17.4%.
Key markets
Exports expanded in almost all major markets, led by strong growth in electronics shipments to the United States. Exports to main markets rose 19.2%, with the United States up 54.3%, the European Union up 17.2% and ASEAN-5 up 13.1%. Shipments to China rose 4.4% and Japan 8.6%, while exports to CLMV countries fell 11.4%.
Secondary markets grew 7.9%, with strong gains in Australia, the Middle East, Africa and Latin America. Exports declined to South Asia, Russia and the CIS, and the United Kingdom. Other markets surged 176.0%.
2026 outlook
Looking ahead, Nantapong said export growth in 2026 is expected to slow, with TPSO forecasting a range from a contraction of 3.1% to growth of 1.1%.
Risks include existing and new US tariff measures, changes in global trade rules amid intensifying geopolitical conflicts, and a strengthening baht. He said authorities are closely monitoring the US dollar, potential US Federal Reserve interest rate cuts and geopolitical developments, stressing the need for Thailand to maintain a neutral balance.
Despite the risks, Thai exports still have support from rising demand for technology and AI-related products, food security concerns, growth in emerging markets such as India, Latin America and Central Asia, and the use of tariff privileges under newly implemented free trade agreements. The Commerce Ministry said it will closely track global trade developments to address obstacles promptly and maintain confidence among Thai exporters over the long term.
