FX.co ★ Thailand Trade Balance Swings to Deficit

Thailand recorded a trade deficit of USD 3.61 billion in July 2026, reversing a USD 0.32 billion surplus in the same month a year earlier. This marked the tenth consecutive monthly shortfall, though the deficit was smaller than market expectations of USD 5.4 billion, as import growth continued to outpace exports.

Imports surged 36.7% year-on-year, a notable slowdown from the 50.3% increase in June and below the projected 42.2%. The strong import performance was driven by ongoing government stimulus measures aimed at boosting both consumption and investment. Exports, meanwhile, grew 21.6% year-on-year, slightly faster than the 20.8% rise in June and beating forecasts of 17.8%.