Thailand’s exports grew for the eighth consecutive month in February, surpassing expectations with a 14.0% year-on-year increase, according to the country’s Commerce Ministry. This figure exceeded the 9.7% rise forecasted in a Reuters poll and followed a 13.6% increase in January.
Commerce Minister Pichai Naripthaphan expressed confidence in the trade outlook, stating that exports could grow by 10% annually in the first quarter. He also highlighted the role of free trade agreements in supporting export growth.
In 2024, Thailand’s total exports reached a record $301 billion, marking a 5.4% increase. For 2025, the ministry has projected export growth of 2% to 3%, though some officials believe the increase could exceed 3%, particularly with a rebound in agricultural exports in the coming months.
Despite the strong performance, officials emphasized the importance of monitoring global trade conditions. Thailand is seeking to increase imports from the United States to address its $35.4 billion bilateral trade surplus in 2024. Discussions with the private sector are ongoing, and Thai officials are awaiting responses from U.S. trade representatives regarding potential negotiations.
In February, exports to the United States—Thailand’s largest market—rose 18.3%, while shipments to China increased 22.4%. However, rice export volumes declined 33.1% year-on-year, with total rice shipments projected to reach 7.5 million tons in 2025, down from 9.95 million tons in 2024. The decrease follows India’s resumption of rice exports, affecting global supply dynamics.
Thailand’s imports in February increased 4% year-on-year, below the expected 4.8% rise, resulting in a trade surplus of $2 billion, exceeding the projected $0.7 billion.
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