Thailand’s export sector reached new heights in May 2025, marking its fastest growth in more than three years with an 18.4% year-on-year surge, according to the Ministry of Commerce. Valued at a record-setting THB1.025 trillion (US$31.04 billion), the boost was driven by soaring demand for industrial goods, agricultural exports, and a rush to beat looming tariffs.
“We hope export growth will exceed 10% this year,” said Commerce Minister Pichai Naripthaphan, who added that exports will be “a hero” of the economy this year.
The spike reflects a broader 14.9% rise in Thai exports over the first five months of 2025, beating all expectations and signaling a strong rebound in global trade. Even when excluding oil, gold, and armament goods, May’s growth reached an impressive 20.3%.
Tech and agriculture lead the way
Much of May’s success stemmed from a booming digital economy. Exports of computers and related parts skyrocketed by 104%, while industrial products as a whole jumped 22.9%. Meanwhile, agriculture staged a comeback — durian, mangosteen, and rambutan exports helped push agricultural export growth to 6.8%, reversing a five-month slump.
Thailand’s top export markets also saw significant gains. Exports to the United States rose 35% year-on-year, followed by China (28%) and Canada (40.2%). Other strong performers included the Middle East and neighboring countries, each posting double-digit growth.
With imports also climbing 18% to US$29.9 billion, Thailand posted a monthly trade surplus of US$1.12 billion. The Ministry of Commerce credited the weaker Thai baht for boosting global competitiveness.
Tariff talks loom as confidence runs high
The record-breaking figures come amid trade negotiations with the United States, which may impose tariffs as high as 36% if no agreement is reached before the current moratorium ends in July.
Officials nevertheless remain optimistic, with Permanent Secretary for Commerce Vuttikrai Leewiraphan indicating on June 18th that Thailand’s proposals are good and could bring tariffs down to a 10% baseline. Thailand’s formal proposal includes tariff concessions, increased U.S. imports, and investment pledges.
Despite uncertainty, analysts remain upbeat. If current trends hold, Minister Pichai noted that Thailand could see export growth topping 10% for the full year, cementing 2025 as a breakout moment for Thai trade.
Teerin Julsawad