• Thai exports in March 2026 surged by 18.7 percent YoY, contrary to prior expectations that they would be affected by the Middle East conflict. Although exports to that specific market contracted sharply by (-)57.1 percent YoY, the impact on overall Thai exports was minimal.
• Thai electronics exports continued to see high growth of 43.8 percent YoY. Although this was a slowdown from the previous month, electronics remained the key driver of Thai exports, with demand for products related to AI and data centers expected to remain robust.
• Thai exports in 2026 are expected to grow no less than the Ministry of Commerce’s baseline forecast of 3 percent, despite the ongoing conflict in the Middle East. Meanwhile, imports are also projected to expand more than earlier forecasts, in line with the solid export performance. As a result, the trade balance (on a customs basis) is likely to record a larger deficit than previously anticipated.
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