26 Nov 2024

Thai Economy

Thailand’s export growth surged 14.6% YoY in October 2024, bolstered by trade war (Business Brief No.4101)

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Thai exports grew by 14.6 percent YoY in October 2024, surpassing market expectations. Key drivers included uncertainties surrounding geopolitics and the US election results, which fueled a 169.3 percent YoY surge in gold exports. Additionally, increased imports from the US and the upturn in the electronics cycle supported the growth.
KResearch projects Thai exports for 2024 may grow approximately 4.5 percent, higher than our prior estimate. This is attributed to the upturn in the electronics cycle, geopolitical uncertainties, and potential acceleration in US imports ahead of the policy implementation.
For 2025, Thailand’s export growth is expected to slow down from that seen in 2024, as risks from a potential new round of trade wars may weigh on trade performance.

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Thailand’s export growth surged 14.6% YoY in October 2024, bolstered by trade war (Business Brief No.4101)

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Thailand’s export growth surged 14.6% YoY in October 2024, bolstered by trade war (Business Brief No.4101)

Related Analysis

Households are Cautious about Spending in 1Q18

Thai economy continues to grow in 2018 Growth of 4.0% is expected (Business Brief No.3727)

Official launch of EEC: Key to Thailand’s Economic Development (Current Issue No. 2899 Full Ed.)

Thai Household Debt May Fall to 77-78% of GDP in 2018 (Current Issue No. 2896)

Economy Likely Unfazed by THB5-22 Daily Minimum Wage Hikes Nationwide (Business Brief No.3722 Full Ed.)

Household sentiment toward economy continues to improve for 3 straight months, sending positive signal for private consumption in 1Q18

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