Thailand's exports rose for a ninth straight month in March and more than expected, reaching the highest level in three years, although steep US tariffs remain a concern, the Commerce Ministry reported on Thursday.
Exports, a key driver of Southeast Asia's second-largest economy, climbed 17.8% in March from a year earlier, above a forecast rise of 13.5% in a Reuters poll and beating February's 14.0% rise.
In the January-March period, exports rose 15.2% year-on-year. The Commerce Ministry has forecast exports will rise 2% to 3% this year, after an increase of 5.4% to a record US$301 billion in 2024.
In March, exports to the United States, Thailand's biggest market, rose 34.3% from a year earlier, while shipments to China increased 22.4%.
Imports rose 10.2% in March from a year earlier, up from a forecast rise of 6.1%.
The country recorded a trade surplus of $0.97 billion last month versus a forecast surplus of $1.1 billion.
The United States was Thailand's largest export market last year, accounting for 18.3% of total shipments, or $54.96 billion. Washington has put its deficit with Thailand at $45.6 billion. Thailand is among Southeast Asian nations hardest hit by US President Donald Trump's measures, facing a 36% tariff if a reduction cannot be negotiated before a global moratorium expires in July.
"Thai exports in 2025 face a challenge from US tariffs and retaliatory tariffs from other countries, creating concern for the global economy" the ministry said in a statement.
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