Thai exports in April 2026 maintained robust growth, driven by AI demand, but a sharper surge in imports could pressure the trade balance going forward (Business Brief No.4270 Full Ed.)

•    Thai exports in April 2026 expanded sharply by 23.1 percent YoY, accelerating for the third consecutive month. This reflects momentum from the AI/data center investment cycle. Meanwhile, accelerated exports in certain product categories continued to play a crucial role in Thailand’s trade sector, although some supporting factors may only be temporary.
•    However, Thailand’s trade sector has seen not only robust export performance but also a much sharper acceleration in imports. Thai imports in April 2026 grew at a more than four-year high of 45.0 percent YoY, reflecting both the impact of rising energy prices and investment in the AI/data center sector.
•    KResearch maintains its projection for Thailand’s overall exports in 2026 at 8.2 percent, driven by the continued robust growth outlook of electronics exports. On the import side, the forecast remains at 13.9 percent, supported by exports and domestic investment. The sharper acceleration in imports is likely to significantly weaken the trade balance (BOP basis) going forward.