FX.co ★ Thailand Trade Deficit Expands on Strong Import Growth

In November 2025, Thailand experienced a substantial increase in its trade deficit, which expanded to USD 2.73 billion from USD 2.20 billion in November 2024. This marked the fifth instance of a trade gap within the year, driven by a more rapid growth in imports compared to exports. Year-over-year, imports surged by 17.6%, up from the 16.3% growth seen in October, reaching their highest growth rate since May. This escalation was fueled by robust domestic demand, supported by government initiatives at the close of the year. Conversely, exports grew at a more modest rate of 7.1%, although this was an improvement from the 5.7% growth recorded in the preceding month.