Thai export growth slightly below forecast in May, shipments to China fall
In the first five months of 2026, exports rise 17% year on year
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[BANGKOK] Thailand’s customs-cleared exports rose 10.6 per cent in May from a year earlier, the commerce ministry said on Thursday (Jun 25), slightly lower than analysts’ expectations.
The May reading compared with a forecast rise of 12 per cent in a Reuters poll and followed an increase of 23.1 per cent the previous month.
Imports rose 35.1 per cent in May from a year earlier, in line with the poll forecast.
Thailand recorded a trade deficit of US$5.71 billion for the month, compared with a poll forecast of a US$6.12 billion deficit.
The ministry expects exports to post full-year growth of 8 per cent, supported by easing global tensions and strong tech demand, Nantapong Chiralerspong, head of the Trade Policy and Strategy Office, said at a briefing.
In the first five months of 2026, exports rose 17 per cent year on year. Thailand’s exports rose 12.9 per cent last year.
In May, shipments to the United States, Thailand’s largest market, increased 33.5 per cent from a year earlier, while shipments to China dropped 2.5 per cent, the ministry said.
Exports are now likely to post single-digit growth each month over the remainder of the year, Nantapong said.
Frontloading of exports to the US amid tariff uncertainty has boosted growth so far this year, though this will ease, the ministry said.
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US tariff measures are expected to be no more severe than anticipated, and exporters are seen as able to adjust, the ministry added.
On Wednesday, the central bank left its key interest rate unchanged and raised its 2026 economic growth outlook to 2.3 per cent, with exports seen up 14 per cent. REUTERS
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