Thai trade gap hits US$5.86bn in September as imports surge
Thailand posted a US$5.86 billion trade deficit in September as imports outpaced exports, despite strong electronics shipments.
- Thailand recorded a trade deficit of US$5.86 billion in September as a surge in imports outpaced export growth.
- Imports grew by 50.4% year-on-year, reaching a record US$44.3 billion for the month.
- Exports also rose by 24% year-on-year to US$38.4 billion, marking the 27th consecutive month of growth.
- The September figure contributed to a total trade deficit of US$43.69 billion for the first nine months of the year.
Thailand recorded a trade deficit of about US$5.86 billion in September 2026 as imports grew 50.4% year on year, outpacing a 24% rise in exports. Nantapong Chiralerspong, director-general of the Trade Policy and Strategy Office (TPSO), announced the September trade figures on October 26, 2026.
Thailand’s September exports amounted to US$38,438.9 million, or about 1.25 trillion baht, extending growth to a 27th consecutive month. Imports reached a record US$44,295.6 million, or about 1.46 trillion baht. The TPSO reported a deficit of US$5,856.6 million, equivalent to 209.402 billion baht.
Thai trade deficit reaches US$43.69bn in first nine months
Thailand’s trade deficit for January–September 2026 totalled US$43,693.9 million, or about 1.54 trillion baht, according to TPSO figures.
Thailand’s exports over the first nine months of 2026 rose 19.6% year on year to US$304,588.6 million, or about 9.76 trillion baht. Imports increased 37.8% to US$348,282.5 million, equivalent to about 11.3 trillion baht.
Electronics and AI demand sustain Thai export growth
Nantapong attributed Thailand’s export strength to electronics demand linked to artificial intelligence (AI), data centres and global technology investment. Thailand’s role in global production chains helped support growth in electronics and electrical appliance shipments.
Thailand’s exports excluding oil-related products, gold and military goods grew 28.2% year on year in September 2026, according to the TPSO.
Nantapong also cited the International Monetary Fund’s assessment that Thailand was among the world’s major net exporters of AI-related hardware.
The United States remained Thailand’s largest export market, accounting for 26.5% of export value in September 2026, according to the TPSO’s market data.
Thailand’s agricultural and food export gains in September included natural rubber, frozen chicken and pet food, alongside fresh durians, mangosteens and longans.
Nantapong also pointed to a global manufacturing purchasing managers’ index of 53 in September 2026, a 55-month high, reflecting stronger new orders and export activity.
Middle East conflict and European unrest pose risks to Thai exports
Nantapong said the closure of the Strait of Hormuz continued to affect Thailand’s Middle Eastern export markets, while prolonged conflict weighed on demand. High energy and palm oil prices were also putting pressure on production costs, international transport and supply chains.
Nantapong said discussions with Thai commercial attachés overseas indicated that intermittent unrest in Europe had not yet directly affected Thailand’s overall exports.
European demonstrations could disrupt logistics networks and delay shipments if they escalated into strikes, Nantapong warned. Prolonged unrest could also weaken purchasing power and tourism in affected markets, putting pressure on Thai exports over the longer term.
Thai export growth could reach 19% in 2026
Nantapong said the TPSO expected Thailand’s exports to grow by 15–16% in 2026, although an increase of 19% remained possible. Growth of 19% would take annual export value to approximately US$404,876.7 million, the highest on record.
Thailand’s Commerce Ministry will continue working with businesses, overseas commercial attachés and relevant agencies to support exports and respond to challenges in global markets.
