Thailand's exports surged 14% in February 2025

Thailand's exports continued to grow in February, marking the eighth straight month of increases. The Commerce Ministry reported a 14% rise in exports compared to the same month last year. This result exceeded the expected growth of 9.7%, as surveyed by Reuters. January's exports had also increased by 13.6%. Commerce Minister Pichai Naripthaphan expressed satisfaction with the export performance. He mentioned that exports could see a 10% increase in the first quarter of 2025. He also noted that trade, investment, and ongoing free trade negotiations are expected to support further growth. In 2024, Thailand's exports reached a record $301 billion, growing by 5.4%. The ministry projects a more modest increase of 2% to 3% for this year but believes actual shipment levels could surpass that forecast. Imports grew by 4% in February, which was below the predicted rise of 4.8%. This resulted in a trade surplus of $2 billion, significantly higher than the forecast of $0.7 billion. Minister Pichai expressed hopes that Thailand would avoid tariffs from the US, as concerns arise over the country's trade surplus with the US. Exports to the United States, Thailand's largest market, increased by 18.3% in February. Shipments to China also saw a rise of 22.4%. However, rice export volumes fell sharply, down by 33.1% year-on-year.