FX.co ★ Thailand’s Export Growth Cools Sharply in February, Year-on-Year Expansion Slows to 10.6%

Thailand’s exports grew 10.6% year-on-year in February 2026, marking a sharp deceleration from the 23.6% annual growth recorded in January 2026, according to data updated on 31 March 2026. Both readings compare each month’s performance with the same month a year earlier.

The slowdown suggests that while Thailand’s external sector remains in expansion territory, the pace of growth has moderated significantly after a strong start to the year. January’s figure had pointed to robust momentum in overseas shipments, but February’s data indicate that export growth is normalizing from those elevated year-on-year levels.

The February reading will be closely watched by market participants and policymakers as they assess the durability of Thailand’s export-led support for the broader economy. The shift from 23.6% to 10.6% year-on-year growth between January and February highlights rising uncertainty around the strength and consistency of global demand for Thai goods in early 2026.