Thai exports rise 17.6% but import surge drives deficit

Thailand’s exports rose 17.6% year on year to US$196.74 billion in the first half of 2026, driven largely by technology and electronics, but a 38% surge in imports left the country with a US$31.74 billion trade deficit.

Total trade from January to June reached US$425.23 billion, an increase of 27.8% from the same period last year. Imports were valued at US$228.49 billion, outpacing export growth during the period.

Deputy government spokesperson Lalida Persvivatana said on Sunday (August 9) that exports continued to perform strongly and remained above their year-earlier level, in line with Prime Minister Anutin Charnvirakul’s recent comments on Thailand’s export outlook.

Exports in June alone were valued at US$34.66 billion, up 20.8% year on year. First-quarter shipments reached US$96.17 billion, an increase of 17.4%, before rising to US$100.57 billion in the second quarter, up 17.7%.

Technology and electronics drive export growth

Computers, equipment and components were a major contributor to the first-half expansion, with exports valued at US$18.78 billion, up 47.9%. The product group contributed 5.4 percentage points to overall export growth.

Exports of fax machines, telephones, equipment and components surged 169% to US$3.55 billion.

Machinery and components, agricultural machinery, electrical transformers, and copper and copper products also recorded continued growth.

Agricultural and food exports remained another source of revenue. Shipments of fresh, chilled, frozen and dried fruit rose 16.3% to US$4.02 billion, while gems and jewellery exports increased 19.8% to US$14.17 billion.

Lalida described the performance of technology, electronics and products linked to the digital economy as a positive sign for Thailand’s ability to take a larger role in modern industrial supply chains.

US remains Thailand’s largest export market

The United States retained its position as Thailand’s largest export destination during the first six months, with shipments rising 41.1% to US$47.14 billion.

The US market accounted for 24% of Thailand’s total exports during the period.

Exports to China increased 8.1% to US$22.65 billion, while shipments to Japan climbed 12.9% to US$13.19 billion.

India received Thai exports worth US$9.15 billion, up 10%, while exports to Singapore surged 74% to US$9.13 billion.

The simultaneous expansion of shipments to the United States, China, Japan, India and Singapore helped sustain export growth throughout the first half.

Government targets new and existing markets

“The first-half figures clearly show that Thailand’s exports performed better this year than last year, expanding by 17.6% over the six months and by 20.8% in June alone,” Lalida said.

“The government will work to maintain this momentum by opening new markets, maintaining existing markets and supporting Thai businesses in taking advantage of changes in global supply chains, so that export income benefits businesses, SMEs and the Thai economy as much as possible.”

The government will continue monitoring global economic and trade conditions during the second half of the year, with a focus on maintaining the competitiveness of Thai products and supporting continued export growth.