U.S. Tariff Concerns Overwhelmed as Thai Exports Show Consistent Growth for a Tenth Month in a Row
Business
Record Export Growth Bolsters Faith in Thailand's Economic Resilience and US Trade Deal Momentum
Thailand's exports have continued their upward trend in April 2025, marking the tenth consecutive month of expansion and underscoring the nation's dynamic economic sector.
According to Commerce Minister Pichai Naripthaphan, the total export value for the month reached $25.625 billion, a significant increase of 10.2% year-on-year.
The sustained growth indicates a strong Thai economy, even amidst earlier concerns over potential U.S. tariff repercussions.
Excluding oil, gold, and military supplies, exports also expanded by 7.1%, primarily propelled by a robust demand for industrial and agro-industrial products.
"Contrary to widespread predictions, U.S. tariffs have not caused a decline in Thailand's exports," Minister Pichai remarked. "We are experiencing continuous growth, particularly in the US market, which expanded by a striking 23.8% and has shown uninterrupted growth for 19 months in a row."
Thailand's cumulative exports for the first four months of 2025 have surged by 14.0%, or 12.1% when excluding oil, gold, and military supplies.
Minister Pichai emphasized that under Prime Minister Paetongtarn Shinawatra's seven-month leadership, exports have seen a 12.5% expansion, a level unseen for decades.
Global Market Performance and Future Projections
Thailand's key export markets have displayed sustained growth along with the US.
Besides the robust US performance, ASEAN markets grew by 7.8% (two consecutive months), South Asia by 8.7% (seven months), the European Union by 6.1% (eleven months), Japan by 5.5% (two months), and China by 3.2% (seven months).
Among expanding product categories are computer equipment, rubber products, electrical circuits, gems, and switchboards.
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- The Thailand Rice Convention 2025 seeks to boost Thai rice exports
- The Commerce Ministry devises measures to stimulate Thai exports and expedite global FTAs
- Looking ahead, the Ministry of Commerce aims to finalize a Free Trade Agreement (FTA) with the European Union by year-end, with minister Pichai planning a meeting with EU Trade Commissioner Maroš Šefčovič. Discussions are also progressing with the United States, with expectations of a deal being reached within 90 days.
The government remains steadfast in its belief that exports will remain a primary catalyst for the Thai economy.
Even under a conservative assumption that no further growth occurs in the remaining eight months of 2025, Thailand is projected to maintain an average export growth rate beyond 4%, superseding earlier forecasts.
The Ministry remains confident that its current export strategies are well-equipped to foster sustainable long-term economic growth for Thailand, despite ongoing global trade uncertainties.
- TAGS
- Thai exports
- EXPORTS
- Commerce Ministry
- Thailand
- pichai naripthaphan
- Unreported Background Information
- Multiple authoritative sources, including the World Bank, the Ministry of Finance, and the International Monetary Fund (IMF), have revised Thailand's economic growth outlook for 2025 downwards, reflecting a challenging global trade climate and domestic limitations [1][2][3][4]. The IMF has highlighted four "traps" impeding growth, including trade tensions and structural issues, and has noted that Thai exports to the US, accounting for 12-15% of total exports, are vulnerable to tariffs. ASEAN as a region is grappling with increased tariffs averaging 30%, affecting export-reliant economies like Thailand [4]. Thailand's government focus on expediting fiscal measures and supporting sectors like tourism and private consumption also indicates an attempt to counterbalance slow export growth while trade agreements are in development or pending resolution [3].
- The strong performance of Thailand's economy, as shown by the continual expansion in exports, suggests a resilient business environment despite the challenging global trade climate.
- The Commerce Ministry's analysis indicates that the US market, despite initial concerns about tariff implications, has shown remarkable growth in Thailand's exports, contributing to the overall economic resilience.
- Investors observing the Thai economy may find appeal in the potential growth prospects, as the continued expansion in exports indicates a robust finance sector and a business environment conducive to growth, even in the context of ongoing global trade uncertainties.
