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25 Nov 2025

Thai Economy

Thai exports in October 2025 grew at a slower pace of 5.7% YoY, while Thai shipments in 2026 are expected to contract by (-)1.2% (Business Brief No.4218 Full Ed.)

คะแนนเฉลี่ย
  • Thai exports in October 2025 continued to grow, but at a slower rate of 5.7 percent YoY, which is close to the prior projection. Although electronics remained the primary support, Thai shipments to the US began to feel the impact of President Trump’s tariffs, with goods subject to a 19-percent reciprocal tariff showing signs of slowing growth. 
  • Given this, KResearch maintains its projection for Thailand’s overall export growth in 2025 at 11.0 percent. For the last two months of the year, Thai shipments are expected to see slower growth due to the increasing impact of President Trump’s tariffs, combined with a high base from the same period last year. Meanwhile, total Thai imports in 2025 are projected to expand by only 10.3 percent. 
  • Thai exports in 2026 may drop by (-)1.2 percent due to pressure from the high base effect caused by the front-load of shipments in 2025, along with the potential impact of US tariff measures under Section 232, which are likely to cover a broader range of goods, particularly electronics. In addition, any recovery in Thai exports is likely to be limited by slowing global demand. Meanwhile, Thai imports in 2026 are likely to contract by (-)0.8 percent, in line with the decline in shipments

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Thai Economy