Thailand's Exports Surge for 13th Straight Month, Defying Global Headwinds
The Commerce Ministry reports 11% growth in July, boosted by importers' rush to beat new US tariffs, but expects a slowdown in the months ahead
- Thailand's exports grew for the 13th consecutive month, surging by 11% in July to a value of $28.58 billion.
- The growth was primarily driven by a rush from international importers to secure goods before the implementation of new U.S. tariffs.
- Despite strong performance in industrial and agricultural sectors, officials expect the export growth rate to slow down from August onwards.
Thailand's exports continue their remarkable performance, recording a thirteenth consecutive month of growth with a significant 11 percent increase in July, according to a report from the Ministry of Commerce.
The monthly report revealed that July’s exports were valued at $28.58 billion. This sustained growth was largely driven by a last-minute scramble from international importers to secure goods before the U.S. began implementing new tariffs.
The ministry expects export growth to moderate from August onwards but remains positive for the year.
Poonpong Naiyanapakorn, Director-General of the Ministry's Trade Policy and Strategy Office, confirmed that with imports valued at $28.26 billion, Thailand posted a trade surplus of $322.1 million.
When excluding oil, gold, and military supplies, exports grew even more robustly at 16.6 percent. This marks the third consecutive month of trade surplus for the nation.
For the first seven months of 2025, total exports expanded by 14.4 percent to $195.43 billion. This strong performance was supported by a rush to export goods before the full enforcement of U.S. retaliatory tariffs.
Poonpong noted that confidence among Thai exporters was also boosted by the government's assurance that it would successfully negotiate a new tariff rate with the U.S. and provide assistance to affected businesses.
The Director-General highlighted strong performances across key sectors in July, with agricultural and agri-industrial exports up by 10.9 per cent and industrial exports rising by 14.0 percent.
He specifically mentioned significant growth in computer components, rubber products, and machinery.
"From August onwards, Thai exports are likely to slow down but will remain in positive territory," Poonpong stated.
He added that a revised full-year forecast would be considered after reviewing the August data in consultation with the Joint Standing Committee on Commerce, Industry and Banking and the Federation of Thai Exporters.
Looking ahead, he expressed optimism for the rest of 2025 following Thailand's successful negotiation with the U.S. to reduce import tariffs from 36 percent to just 19 percent.
This outcome, which aligns Thailand's tariff rate with other regional exporters, is expected to ease investor concerns and encourage future investment.
However, several risk factors remain, including disruptions to cross-border trade with Cambodia due to ongoing conflict, a build-up of inventory in importing countries following the U.S. tariff announcement, and a slowdown in the Chinese economy that could curb future orders.
The ministry will continue to monitor these situations closely to find appropriate countermeasures.
