Thailand’s Record Trade Deficit Raises Pressure on Baht as Imports Surge

BANGKOK, 25 May 2026 – Thailand’s trade deficit has widened sharply as imports continue to outpace exports, raising fresh concerns over the country’s external balance, currency outlook and recovery momentum at a time when the economy is already facing tariff risks, weak domestic confidence and uneven tourism-linked demand.

Customs-cleared exports rose 23.1% year-on-year in April 2026, beating expectations and extending Thailand’s export growth streak, but the positive headline was overshadowed by a much larger import bill. The widening gap suggests that Thailand’s external sector is experiencing a different kind of pressure: exports are still growing, but import demand is rising even faster.