The dollar value of Thailand’s exports rose 10.6% in May from a year earlier, the Ministry of Commerce said on Thursday, slightly lower than analysts’ expectations.
The May reading compared with a forecast rise of 12% in a Reuters poll and followed an increase of 23.1% the previous month.
The dollar value of imports rose by 35.1% in May from a year earlier.
Thailand recorded a trade deficit of $5.71 billion for the month, compared with $6.12 billion forecast by those polled.
The ministry expects exports to post full-year growth of 8%, supported by easing global tensions and strong demand for technology products, said Nantapong Chiralerspong, head of the ministry’s Trade Policy and Strategy Office.
In the first five months of 2026, exports rose 17% year-on-year. Full-year export growth was 12.9% last year.
In May, shipments to the United States, Thailand’s largest market, increased by 33.5% from a year earlier, while shipments to China dropped 2.5%, the ministry said.
Exports are now likely to post single-digit growth each month over the remainder of the year, Mr Nantapong said.
Frontloading of exports to the US amid tariff uncertainty has boosted growth so far this year, though this will ease, the ministry said.
US tariff measures are expected to be no more severe than anticipated, and exporters are seen as being able to adjust, the ministry said.
On Wednesday, the Bank of Thailand raised its 2026 economic growth outlook to 2.3%, from 2.0% earlier, saying it expected 14% growth in exports.
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