In March 2025, Thailand’s exports surged by 17.8% year-on-year, reaching a three-year high of USD 29.5 billion. This growth was driven largely by urgent orders from key trading partners like the US, China, and the EU, ahead of expected tariff increases by the US.
For the first quarter of 2025, Thai exports rose 15.2% compared to the same period last year, totaling USD 81.5 billion, with a trade surplus of USD 1.08 billion. Commerce Minister Phichai Naripatapan expressed optimism that exports would continue to grow in the second quarter, possibly exceeding the annual growth target of 2-3%.
However, Thailand faces challenges in ongoing trade negotiations with the United States. If a new agreement isn't reached before the July deadline, Thai exports could be hit by tariffs as high as 36%. The US recently requested more time to review key issues, delaying the talks.
The export boost in March is partly due to buyers accelerating orders to avoid future tariffs, especially from the US — Thailand’s largest export market, accounting for 18.3% of total exports. Exports to the US jumped 34.3%, and to China by 22.4% during the month.
Despite potential tariff risks, Thailand’s Commerce Ministry remains positive about the overall export outlook for 2025.
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April 30, 2025
