Thailand's exports beat forecasts with the fastest growth rate in more than three years in September after a surge in US shipments, prompting the commerce ministry to raise its export forecast for the whole of 2025.
Exports, a key driver of the Thai economy, rose 19.0% in September from a year earlier, the fastest rate of growth in 42 months, the commerce ministry said on Monday, beating analysts' expectations of a rise of 7.0% and following an annual rise of 5.8% in August.
Exports were boosted by clarity on US tariffs, as well as signs of a relaxation in US trade measures compared with earlier periods, which helped improve the global trade environment, the ministry said in a statement.
"US tariffs on Thailand have had a relatively limited direct impact, and our entrepreneurs are somewhat prepared," Nantapong Chiralerspong, head of the Trade Policy and Strategy Office, told a press conference.
"Compared to other Asean countries, our 19% tariff rate remains competitive," he said.
In September, exports to the US, Thailand's largest market, jumped 35.3% from a year earlier, the ministry said.
The US set a 19% tariff on imported goods from Thailand, lower than the 36% rate announced earlier and in line with other countries in the region.
Thailand and the US on Sunday reached a framework agreement on trade, in which Thailand would eliminate tariff barriers on approximately 99% of US goods.
In the first nine months of 2025, exports rose 13.9% from a year earlier. The commerce ministry now expects exports to rise between 9.4% and 10.4% this year, much higher than its original target of 2% to 3%.
Exports are expected to continue rising in the remaining three months of the year, but at a slower pace, Nantapong said.
In September, imports increased 17.2% from a year earlier, higher than a forecast rise of 10.6%.
That led to a trade surplus of US$1.28 billion in September, much higher than the expected US$0.1 billion surplus.
Rice export volumes fell by 15.6% annually in September and by 23.1% in the January-September period to 5.8 million tonnes.
Source: theedgemalaysia