Abstract
Thai merchandise exports in February 2025 increased by 14.0%YOY to USD 26,707.1 million, boosted by gold exports. Exports to key markets like India, Switzerland, the US, and China also saw significant growth, with electronics and precious metals driving the increase. Industrial and agro-industrial products performed well, but agricultural, mining, and fuel exports declined. Despite a high base effect from gold imports, overall imports increased by 4.0%YOY. SCB EIC expects solid export growth in the first half of 2025, but a slowdown is projected for the second half due to global trade issues.
Summary
The value of Thai merchandise exports in February 2025
The value of Thai merchandise exports in February 2025 accelerated to 14.0%YOY, reaching USD 26,707.1 million. This marked an increase from the 13.6%YOY growth recorded in the previous month. Gold exports and gold-related special factors remained key contributors to Thai export growth in February 2025, with a significant impact on overall export growth for the month.
Exports of industrial and agro-industrial products
Exports of industrial and agro-industrial products continued to expand well in February, while exports of agricultural, and mining and fuel products experienced contractions. Key contributors to export growth included jewelry, computers, rubber products, air conditioners, and machinery, among others. Despite some categories experiencing declines, overall export performance in these sectors remained positive.
Exports to India and Switzerland and key market insights
Exports to India and Switzerland continued to expand robustly in February 2025, driven by strong growth in jewelry and precious stones. Exports to the US and China were supported by electronics-related products, with notable increases in certain categories. The report also delves into exports to various regions and countries, highlighting market-specific performance and key factors influencing export growth.
