Thai exports surge 24.3% in August as AI demand lifts electronics

Thailand’s exports surged 24.3% year on year in August 2026 to US$34.62 billion, marking the fastest growth in 56 months as global investment in artificial intelligence (AI) and technology infrastructure boosted demand for electronics.

Nattiya Sujinda, deputy director of the Trade Policy and Strategy Office (TPSO) under the Commerce Ministry, said the expansion was the strongest since December 2021 and marked the 26th consecutive month of export growth.

August’s export value of US$34.619 billion was the third highest on record, behind US$35.157 billion in March 2026 and US$34.789 billion in July.

Imports reached US$37.101 billion, up 25.1%, leaving Thailand with a trade deficit of US$2.483 billion for the month.

During the first eight months of 2026, exports totalled US$266.150 billion, up 18.9%, while imports rose 36.1% to US$303.987 billion. The cumulative trade deficit stood at US$37.837 billion.

AI investment drives electronics exports

Nattiya attributed the strong performance partly to overseas investment in AI-related industries and infrastructure, which has supported demand for Thai electronics.

Fruit exports to China also rebounded strongly, particularly fresh durian and mangosteen, as produce from southern Thailand entered the market.

Exports expanded strongly across both major and secondary markets.

Agricultural and agro-industrial exports increased 1.4% in August, returning to growth for the first time in four months.

Agricultural exports rose 4.2%, extending their growth to a second consecutive month, while agro-industrial exports declined 1.9% for a fifth straight month.

Products recording growth included fresh, chilled, frozen and dried fruit; rubber; canned and processed seafood; pet food; processed chicken; and fresh, chilled and frozen shrimp.

Exports that contracted included wheat products and other prepared foods, beverages, animal and vegetable fats and oils, fresh and frozen chicken, and edible meat and animal products.

For January–August, agricultural and agro-industrial exports were down 2.4%.

Industrial exports rise 27.1%

Industrial exports jumped 27.1% in August, extending their expansion to 29 consecutive months.

Strong performers included computers and components, telephones and parts, integrated circuits, gems and jewellery excluding gold, transformers and components, electrical appliances, video and audio equipment, and printed circuits.

Exports of automobiles and parts, machinery and components, and motorcycles and parts declined.

Industrial exports increased 22.7% over the first eight months of 2026.

US exports jump nearly 49%

Exports to Thailand’s major markets rose 25.4% overall.

Shipments to the United States jumped 48.7%, while exports to China increased 15.5%, Japan 19.6%, the European Union 23.1%, the five main ASEAN markets 19.3%, and Cambodia, Laos, Myanmar and Vietnam (CLMV) 0.3%.

Exports to secondary markets rose 17.8%, led by an 81% increase to Australia, while Latin America grew 8.8% and Russia and the Commonwealth of Independent States (CIS) increased 1.9%.

However, exports to Africa fell 8.8%, South Asia 11.4%, the Middle East 7.8% and the United Kingdom 8.9%. Exports to other markets increased 66%.

Full-year growth could reach 15%

Nattiya said exports were expected to continue expanding over the remainder of 2026, supported by demand for AI-related electronics and greater clarity over US tariff measures.

However, geopolitical tensions, energy prices and shipping costs remain risks to global trade.

The Commerce Ministry is maintaining its official full-year export growth forecast of 5–11%, with a midpoint of 8%, although the projection will be reassessed.

With exports already up 18.9% during the first eight months, Nattiya said full-year growth was now likely to exceed 11% and could potentially reach 15%.

Growth of 15% would put full-year export value at a record US$391.267 billion. Thailand would need to export an average of around US$31 billion a month during the remaining four months to reach that level.

High base could weigh on exports in 2027

Nattiya cautioned that Thai exports could contract in 2027 because of the exceptionally high comparison base established this year.

Other potential pressures include a weaker global economic outlook, intensifying geopolitical tensions, prolonged or widening conflicts and high inventories accumulated by importers during 2026, which could reduce demand for new orders.

She also noted that the rapid build-out of AI and data-centre infrastructure could begin to stabilise, while financial, currency and debt pressures in the United States could encourage Washington to take further steps to reduce its trade deficit and restrict imports.