Thailand: Merchandise exports growth slows in July
Latest reading: Merchandise exports climbed 9.6% year on year in July, on the heels of June’s 16.0% upturn. The figure marked the weakest increase since December 2024 and likely reflected the fading effect from shipment frontloading earlier this year. Meanwhile, merchandise imports rose 4.4% on an annual basis in July (June: +13.7% yoy), marking the weakest result since February 2025.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.5 billion surplus in July (June 2025: USD 3.3 billion surplus; July 2024: USD 1.1 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 28.1 billion surplus in July, compared to the USD 26.7 billion surplus in June.