Thailand Reports Strong Export Growth Amid Automotive Production Slump

The Ministry of Commerce of Thailand reported that Thailand's customs-cleared exports rose 20.8% year-on-year in June 2026, reaching $34.66 billion. This growth, which exceeded analyst forecasts, was primarily driven by a 44.3% surge in shipments to the United States and a 4.9% increase to China. Industrial products, including computers and telephones, saw a 25.1% increase, fueled by the global artificial intelligence boom. Consequently, the ministry upgraded its annual export growth outlook to between 5% and 11%.

Despite the export surge, Thailand faced a widening trade gap. Imports grew 50.3% in June, resulting in a monthly trade deficit of $6.53 billion. For the first half of 2026, total exports reached $196.74 billion while imports climbed to $228.49 billion, creating a total deficit of $31.74 billion. Investment applications also surged 37% to $43.6 billion in the first six months, led by data centers and the digital sector.

Conversely, the automotive sector is struggling. The Federation of Thai Industries reported that automotive production fell 7.55% in June to 120,391 units. While domestic sales grew 17.26% due to electric vehicle deliveries, exports dropped 7.45%. Citing global headwinds, Middle East hostilities, and U.S. trade barriers, the Federation of Thai Industries revised its 2026 output forecast from a 3% increase to a projected 3.33% contraction.