China · Thai Enquirer
Electronics Drive Export Surge as Thailand Faces Record Trade Deficit
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Thailand’s exports rose by 21.6% year on year to US$34.79 billion in July, with electronics accounting for more than 60% of the growth, according to the Ministry of Commerce and Kasikorn Research Center.
Key facts
- Imports increased by 36.7% to US$38.40 billion, producing a monthly trade deficit of US$3.61 billion
- Electronics exports surged by 67.8% and contributed 14.5 percentage points to the overall export growth
- Exports of telephone sets and parts rose by 160.3%, computer equipment and components by 63.2%, electrical transformers and parts by 47.5%, and circuit boards by 35.2%
- Refined fuel shipments increased by 120.1%, supported by higher energy prices and exports of aviation fuel to Vietnam and the Philippines.
- Agricultural exports grew by 0.6%, their first expansion in three months, led by rubber, shrimp and rice
- However, a continued decline in agro-industrial exports resulted in a combined 1.1% contraction in agricultural and agro-industrial shipments.
Summary
Imports increased by 36.7% to US$38.40 billion, producing a monthly trade deficit of US$3.61 billion. During the first seven months of 2026, exports grew by 18.2% to US$231.53 billion, while imports jumped by 37.8% to US$266.89 billion, leaving a cumulative deficit of US$35.35 billion.
Electronics exports surged by 67.8% and contributed 14.5 percentage points to the overall export growth. About half of the increase came from shipments to the United States, supported by demand related to artificial intelligence and data centres and continued tariff exemptions for key products.