Thai exports jump 19%, top estimates despite Trump tariffs
[BANGKOK] Thailand’s exports rose the most in three years in September, beating economists’ estimates and shrugging off tariffs imposed by US President Donald Trump.
The South-east Asian nation’s outbound shipments increased 19 per cent year-on-year to US$30.97 billion, the fastest since March 2022, according to data from the Commerce Ministry. September’s print is also better than even the most optimistic projection in a Bloomberg survey of economists.
A recovery in global trade following clearer US tariff policy, improved sales in key export markets and higher demand fanned by expectations of further Fed rate cuts boosted Thailand exports, according to the ministry.
The trade data highlights the limited impact of Trump’s tariffs in many Asian economies where similar rates kept intact their export competitiveness. Some countries like Vietnam are also benefitting from shifting supply chains away from China.
Exports to the US, Thailand’s biggest market accounting for about a fifth of shipments, rose 35 per cent from a year ago, with orders for computer parts and telecommunication devices behind the 24th straight month of growth. The US has imposed a 19 per cent tariff on Thai products, lower than the 36 per cent announced earlier in the year.
Thailand posted a trade surplus of US$1.275 billion in September, a reversal from August’s US$1.964 deficit and compares with economists’ median estimate of a US$199 million deficit.
The nation’s exports for 2025 may rise by 9 per cent to 10 per cent should monthly value in the final quarter of the year hover around US$25 billion, according to Nantapong Chiralerspong, director general of the commerce ministry’s Trade Policy and Strategy Office. BLOOMBERG
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