FX.co ★ Thailand Trade Gap Hits 3-Month High

Thailand’s trade deficit widened to USD 3.30 billion in January 2026, up from USD 1.88 billion in the same month a year earlier. This marked the fourth consecutive month of a trade shortfall and the largest gap since October, as import growth continued to outpace exports.

On a year-on-year basis, imports surged 29.4% to a record USD 34.88 billion, accelerating from an 18.8% increase in December and registering the fastest growth since December 2022. The jump was driven in part by ongoing government support measures aimed at stimulating domestic demand.

Exports also rose sharply, climbing 24.4% to an all-time high of USD 31.57 billion, up from a 16.8% gain in December and marking the strongest expansion since November 2021. The robust performance reflected solid foreign demand at the outset of the new year.

For the full year 2025, Thailand recorded a trade deficit of USD 5.31 billion, with both exports and imports rising by 12.9%.