Economy

In October 2025, Thailand’s merchandise exports valued at USD 28.8 billion grew 5.7% YOY, below expectations. Electronics and US shipments drove growth, while gold exports sharply declined. Imports surged, causing a significant trade deficit of USD 3.4 billion.

The U.S. has imposed tariffs up to 50% on appliances with steel components, impacting Thailand’s exports. Expected declines in Thai electrical appliance exports are projected at -1.9% for 2025 and -2.1% for 2026, urging businesses to adjust strategies and diversify markets.

In September 2025, Thailand’s merchandise exports soared to USD 30.97 billion, up 19% YOY, driven by electronics and gold. Imports also rose significantly, leading to a trade surplus of USD 1.28 billion. However, forecasts indicate potential challenges ahead for 2026.

Thailand’s GDP is projected to grow 1.8% in 2025 and 1.5% in 2026, facing domestic and global challenges, including trade tensions and a strong baht. The government should focus on stabilizing, stimulating the economy, and structural reforms to attract foreign investment.

The MPC maintained the policy rate at 1.50% amid economic challenges, revising GDP growth down to below 2% for 2025. It also projected low inflation, monitored deflation risks, and emphasized the need for accommodative monetary policy to support SMEs and economic recovery.

In August 2025, Thailand’s exports grew by 5.8%, significantly below expectations and down from 11.0% in July. Import values surged, leading to a trade deficit of USD 1.96 billion. Challenges include U.S. tariffs and potential additional duties.

On September 29, 2025, Thailand’s government, led by Prime Minister Anutin, expedited its Net Zero target to 2050, advancing it by 15 years. This shift mandates significant adaptation across industries, emphasizing emission reduction and aligning with international standards for economic survival.