FX.co ★ Thailand Trade Gap Largest in Over 2-1/2 Years

In October 2025, Thailand's trade deficit expanded significantly to USD 3.44 billion, a sharp rise from the USD 0.79 billion gap recorded in the same month of the previous year. This figure also far exceeded the anticipated deficit of USD 0.65 billion. This increase represents the largest trade deficit since January 2023, primarily due to the disparity in the growth rates of exports and imports. Exports experienced a modest rise of 5.7% compared to the previous year, a notable deceleration from the 19% increase seen in September. This marks the slowest growth since September 2024 and falls well short of market expectations of a 6.1% rise. The earlier surge was driven by manufacturers' advance ordering in anticipation of developments in U.S. tariffs. On the other hand, imports increased by 16.3% year-on-year, following a 17.2% rise in September, and surpassed the predicted 7.5% growth. This robust import increase was buoyed by government measures aimed at stimulating domestic demand.